Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.22 of Bats EDGX Exchange, Inc. To Modify the Date of Appendix B Web Site Data Publication Pursuant to the Regulation NMS Plan To Implement a Tick Size Pilot Program, 23479-23481 [2017-10311]
Download as PDF
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Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate, it has
become effective pursuant to 19(b)(3)(A)
of the Act 6 and Rule 19b–4(f)(6) 7
thereunder.
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.
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 (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
MIAX–2017–21 on the subject line.
mstockstill on DSK30JT082PROD with NOTICES
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–MIAX–2017–21. 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/sro.shtml). Copies of the
6 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
the proposed rule change at least five business days
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. The Exchange has satisfied this
requirement.
7 17
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23:17 May 19, 2017
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23479
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 the
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–MIAX–
2017–21 and should be submitted on or
before June 12, 2017.
designated this proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(6)(iii)
thereunder,4 which renders it effective
upon filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Eduardo A. Aleman,
Assistant Secretary.
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 parts of such
statements.
[FR Doc. 2017–10312 Filed 5–19–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80689; File No. SR–
BatsEDGX–2017–19]
Self-Regulatory Organizations; Bats
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change to Rule 11.22 of
Bats EDGX Exchange, Inc. To Modify
the Date of Appendix B Web Site Data
Publication Pursuant to the Regulation
NMS Plan To Implement a Tick Size
Pilot Program
May 16, 2017.
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 May 4,
2017, Bats EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange has
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00310
Fmt 4703
Sfmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange filed a proposal to
amend Rule 11.22 to modify the date of
Appendix B Web site data publication
pursuant to the Regulation NMS Plan to
Implement a Tick Size Pilot Program
(‘‘Plan’’).
The text of the proposed rule change
is available at the Exchange’s Web site
at www.bats.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
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Rule 11.22(b) (Compliance with Data
Collection Requirements) 5 implements
the data collection and Web site
publication requirements of the Plan.6
Rule 11.22(b).08 provides, among other
things, that the requirement that the
3 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6)(iii).
5 See Exchange Rule 11.22(b). See also Securities
Exchange Act Release Nos. 77416 (March 22, 2016),
81 FR 17225 (March 28, 2016); and 78798
(September 9, 2016), 81 FR 63532 (September 15,
2016).
6 The Participants filed the Plan to comply with
an order issued by the Commission on June 24,
2014. See Letter from Brendon J. Weiss, Vice
President, Intercontinental Exchange, Inc., to
Secretary, Commission, dated August 25, 2014
(‘‘SRO Tick Size Plan Proposal’’). See Securities
Exchange Act Release No 72460 (June 24, 2014), 79
FR 36840 (June 30, 2014); see also Securities
Exchange Act Release No. 74892 (May 6, 2015), 80
FR 27513 (May 13, 2015).
4 17
E:\FR\FM\22MYN1.SGM
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23480
Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices
Exchange or Designated Examining
Authority (‘‘DEA’’) make certain data for
the Pre-Pilot Period and Pilot Period 7
publicly available on their Web site
pursuant to Appendix B and C to the
Plan shall commence on April 28,
2017.8 The Exchange is proposing to
amend Rule 11.22.08 to delay the
Appendix B data Web site publication
date until August 31, 2017. The
Exchange is proposing to further delay
the Web site publication of Appendix B
data until August 31, 2017 to permit
additional time to consider a
methodology to mitigate concerns raised
in connection with the publication of
Appendix B data.
Pursuant to this proposed
amendment, the Exchange or DEA
would publish the required Appendix B
data for the Pre-Pilot Period through
April 30, 2017, by August 31, 2017.9
Thereafter, Appendix B data for a given
month would be published within 120
calendar days following month end.10
Thus, for example, Appendix B data for
May 2017 would be made available on
the Exchange or DEA’s Web site by
September 28, 2017, and data for the
month of June 2017 would be made
available on the Exchange or DEA’s Web
site by October 28, 2017.
mstockstill on DSK30JT082PROD with NOTICES
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 11 in general, and furthers the
objectives of Section 6(b)(5) of the Act 12
in particular, in that it is designed to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system and, in
general, to protect investors and the
public interest.
The Plan is designed to allow the
Commission, market participants, and
the public to study and assess the
impact of increment conventions on the
7 Unless otherwise defined herein, capitalized
terms have the meaning ascribed to them in
Exchange Rule 11.22.
8 See Exchange Rule 11.22.08. See also Securities
Exchange Act Release No. 80208 (March 10, 2017),
82 FR 14092 (March 16, 2017). See also Letter from
David S. Shillman, Associate Director, Division of
Trading and Markets, Commission, to Robert L.D.
Colby, Executive Vice President and Chief Legal
Officer, FINRA, dated February 28, 2017.
9 The Exchange initially submitted this proposed
rule change on April 28, 2017. (SR–BatsEDGX–
2017–17). On May 4, 2017, the Exchange withdrew
SR–BatsEDGX–2017–17 and submitted this filing.
10 FINRA, on behalf of the Exchange, also is
submitting an exemptive request to the SEC in
connection with the instant filing.
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
VerDate Sep<11>2014
23:17 May 19, 2017
Jkt 241001
liquidity and trading of the common
stock of small-capitalization companies.
The Exchange believes that this
proposal is consistent with the Act
because it is in furtherance of the
objectives of Section VII(A) of the Plan
in that it is designed to provide the
Exchange with additional time to
consider a methodology to mitigate
concerns raised in connection with the
publication of Appendix B data.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange notes that the proposed rule
change implements the provisions of the
Plan.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 13 and Rule 19b–
4(f)(6) thereunder.14
A proposed rule change filed under
Rule 19(b)–4(f)(6) normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii), the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has filed the proposed rule
change for immediate effectiveness and
has requested that the Commission
waive the requirement that the proposed
rule change not become operative for 30
days after the date of the filing so that
it may become operative on the date of
filing.
The Exchange notes that the proposed
rule change is intended to mitigate
confidentiality concerns raised in
connection with Section VII(A) of the
Plan, which provides that the data made
13 15
14 17
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
Frm 00311
Fmt 4703
Sfmt 4703
publicly available will not identify the
Trading Center that generated the data.
The Exchange states that the additional
time would allow consideration of a
methodology to mitigate concerns
related to the publication of Appendix
B data.15
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest
because it will synchronize the timing
for publication of Appendix B data for
all Participants, which should enhance
the consistency and usefulness of the
data.16 Therefore, the Commission
hereby waives the 30-day operative
delay and designates the proposed rule
change to be operative on the date of
filing.17
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.
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:
15 The Commission recently approved a FINRA
proposal to implement an aggregated, anonymous
grouped masking methodology for the publication
of Appendix B data related to OTC trading activity.
See Securities Exchange Release No. 80551, (April
28, 2017), 82 FR 20948 (May 4, 2017). See also
Letter from David S. Shillman, Associate Director,
Division of Trading and Markets, Commission, to
Marcia E. Asquith, Executive Vice President FINRA,
dated April 28, 2017.
16 The Commission recently granted exemptive
relief to the Participants delay the publication of
their Appendix B data until August 31, 2017. See
Letter from David S. Shillman, Associate Director,
Division of Trading and Markets, Commission, to
Jennifer Piorko Mitchell, Vice President and Deputy
Corporate Secretary, FINRA, dated April 28, 2017.
The Commission notes that other Participants have
submitted proposed rule changes to delay the
publication of Appendix B data until August 31,
2017. See e.g., SR–BatsBZX–2017–31; BatsBYX–
2017–10; SR–BatsEDGA–2017–10; SR–BX–2017–
022; SR–CHX–2017–07; SR–FINRA–2017–010; SR–
IEX–2017–12; SR–NASDAQ–2017–044; SR-Phlx2017–33; SR–NYSE–2017–19; SR–NYSEArca-2017–
49; SR–NYSEMKT–2017–24.
17 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
E:\FR\FM\22MYN1.SGM
22MYN1
Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices
Electronic Comments
SMALL BUSINESS ADMINISTRATION
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
BatsEDGX–2017–19 on the subject line.
[Disaster Declaration #15128 and #15129]
Paper Comments
SUMMARY:
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
mstockstill on DSK30JT082PROD with NOTICES
All submissions should refer to File
Number SR–BatsEDGX–2017–19. 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/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 the
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–
BatsEDGX–2017–19 and should be
submitted on or before June 12, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–10311 Filed 5–19–17; 8:45 am]
BILLING CODE 8011–01–P
18 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
23:17 May 19, 2017
Jkt 241001
Texas Disaster #TX–00480
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
PO 00000
Frm 00312
Fmt 4703
Sfmt 4703
The number assigned to this disaster
for physical damage is 15128B and for
economic injury is 151290.
The State which received an EIDL
Declaration # is TEXAS.
(Catalog of Federal Domestic Assistance
Number 59008)
This is a notice of an
Administrative declaration of a disaster
for the State of TEXAS dated 05/11/
2017.
Incident: Severe Storms and
Tornadoes.
Incident Period: 04/29/2017.
Effective Date: 05/11/2017.
Physical Loan Application Deadline
Date: 07/10/2017.
Economic Injury (EIDL) Loan
Application Deadline Date: 02/12/2018.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416, (202) 205–6734.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
Administrator’s disaster declaration,
applications for disaster loans may be
filed at the address listed above or other
locally announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Van Zandt
Contiguous Counties:
Texas: Henderson, Hunt, Kaufman,
Rains, Smith, Wood
The Interest Rates are:
For Physical Damage:
Homeowners With Credit Available Elsewhere ......................
Homeowners Without Credit
Available Elsewhere ..............
Businesses With Credit Available Elsewhere ......................
Businesses
Without
Credit
Available Elsewhere ..............
Non-Profit Organizations With
Credit Available Elsewhere ...
Non-Profit Organizations Without Credit Available Elsewhere .....................................
For Economic Injury:
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..............
Non-Profit Organizations Without Credit Available Elsewhere .....................................
23481
Dated: May 11, 2017.
Linda E. McMahon,
Administrator.
[FR Doc. 2017–10325 Filed 5–19–17; 8:45 am]
BILLING CODE 8025–01–P
SURFACE TRANSPORTATION BOARD
30-Day Notice of Intent To Seek
Extension of Approval and Merger of
Collections: Statutory Licensing
Authority
Surface Transportation Board.
Notice and request for
comments.
AGENCY:
ACTION:
As part of its continuing effort
to reduce paperwork burdens, and as
required by the Paperwork Reduction
Act of 1995 (PRA), the Surface
Transportation Board (STB or Board)
gives notice that it is requesting from
the Office of Management and Budget
(OMB) an extension of approval for the
information collections required from
those seeking licensing authority under
49 U.S.C. 10901–03 and consolidation
authority under sections 11323–26. The
Board is also seeking approval to merge
into this collection (OMB Control
Number: 2140–0023) the collection of
information about interchange
commitments (OMB Control Number:
2140–0016).
The Board previously published a
notice about this collection on January
26, 2017 in the Federal Register. That
notice allowed for a 60-day public
Percent
review and comment period. No
comments were received.
DATES: Comments on this information
3.875
collection should be submitted by June
1.938 21, 2017.
ADDRESSES: Written comments should
6.430 be identified as ‘‘Paperwork Reduction
Act Comments, Surface Transportation
3.215 Board: Statutory Licensing Authority.’’
These comments should be directed to
2.500
the Office of Management and Budget,
Office of Information and Regulatory
2.500 Affairs, Attention: Chad Lallemand,
Surface Transportation Board Desk
Officer, by email at oria_submission@
omb.eop.gov; by fax at (202) 395–6974;
3.215 or by mail to Room 10235, 725 17th
Street NW., Washington, DC 20503.
Please also direct comments to Chris
2.500
Oehrle, Surface Transportation Board,
SUMMARY:
E:\FR\FM\22MYN1.SGM
22MYN1
]]>Agencies
[Federal Register Volume 82, Number 97 (Monday, May 22, 2017)]
[Notices]
[Pages 23479-23481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10311]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-80689; File No. SR-BatsEDGX-2017-19]
Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule
11.22 of Bats EDGX Exchange, Inc. To Modify the Date of Appendix B Web
Site Data Publication Pursuant to the Regulation NMS Plan To Implement
a Tick Size Pilot Program
May 16, 2017.
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 May 4, 2017, Bats EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The Exchange
has designated this proposal as a ``non-controversial'' proposed rule
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with
the Commission. 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.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange filed a proposal to amend Rule 11.22 to modify the
date of Appendix B Web site data publication pursuant to the Regulation
NMS Plan to Implement a Tick Size Pilot Program (``Plan'').
The text of the proposed rule change is available at the Exchange's
Web site at www.bats.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 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 parts of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
Rule 11.22(b) (Compliance with Data Collection Requirements) \5\
implements the data collection and Web site publication requirements of
the Plan.\6\ Rule 11.22(b).08 provides, among other things, that the
requirement that the
[[Page 23480]]
Exchange or Designated Examining Authority (``DEA'') make certain data
for the Pre-Pilot Period and Pilot Period \7\ publicly available on
their Web site pursuant to Appendix B and C to the Plan shall commence
on April 28, 2017.\8\ The Exchange is proposing to amend Rule 11.22.08
to delay the Appendix B data Web site publication date until August 31,
2017. The Exchange is proposing to further delay the Web site
publication of Appendix B data until August 31, 2017 to permit
additional time to consider a methodology to mitigate concerns raised
in connection with the publication of Appendix B data.
---------------------------------------------------------------------------
\5\ See Exchange Rule 11.22(b). See also Securities Exchange Act
Release Nos. 77416 (March 22, 2016), 81 FR 17225 (March 28, 2016);
and 78798 (September 9, 2016), 81 FR 63532 (September 15, 2016).
\6\ The Participants filed the Plan to comply with an order
issued by the Commission on June 24, 2014. See Letter from Brendon
J. Weiss, Vice President, Intercontinental Exchange, Inc., to
Secretary, Commission, dated August 25, 2014 (``SRO Tick Size Plan
Proposal''). See Securities Exchange Act Release No 72460 (June 24,
2014), 79 FR 36840 (June 30, 2014); see also Securities Exchange Act
Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015).
\7\ Unless otherwise defined herein, capitalized terms have the
meaning ascribed to them in Exchange Rule 11.22.
\8\ See Exchange Rule 11.22.08. See also Securities Exchange Act
Release No. 80208 (March 10, 2017), 82 FR 14092 (March 16, 2017).
See also Letter from David S. Shillman, Associate Director, Division
of Trading and Markets, Commission, to Robert L.D. Colby, Executive
Vice President and Chief Legal Officer, FINRA, dated February 28,
2017.
---------------------------------------------------------------------------
Pursuant to this proposed amendment, the Exchange or DEA would
publish the required Appendix B data for the Pre-Pilot Period through
April 30, 2017, by August 31, 2017.\9\ Thereafter, Appendix B data for
a given month would be published within 120 calendar days following
month end.\10\ Thus, for example, Appendix B data for May 2017 would be
made available on the Exchange or DEA's Web site by September 28, 2017,
and data for the month of June 2017 would be made available on the
Exchange or DEA's Web site by October 28, 2017.
---------------------------------------------------------------------------
\9\ The Exchange initially submitted this proposed rule change
on April 28, 2017. (SR-BatsEDGX-2017-17). On May 4, 2017, the
Exchange withdrew SR-BatsEDGX-2017-17 and submitted this filing.
\10\ FINRA, on behalf of the Exchange, also is submitting an
exemptive request to the SEC in connection with the instant filing.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \11\ in general, and furthers the objectives of Section
6(b)(5) of the Act \12\ in particular, in that it is designed to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Plan is designed to allow the Commission, market participants,
and the public to study and assess the impact of increment conventions
on the liquidity and trading of the common stock of small-
capitalization companies. The Exchange believes that this proposal is
consistent with the Act because it is in furtherance of the objectives
of Section VII(A) of the Plan in that it is designed to provide the
Exchange with additional time to consider a methodology to mitigate
concerns raised in connection with the publication of Appendix B data.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The Exchange
notes that the proposed rule change implements the provisions of the
Plan.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received written comments on
the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \13\ and Rule 19b-
4(f)(6) thereunder.\14\
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19(b)-4(f)(6) normally does
not become operative prior to 30 days after the date of the filing.
However, pursuant to Rule 19b-4(f)(6)(iii), the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has filed
the proposed rule change for immediate effectiveness and has requested
that the Commission waive the requirement that the proposed rule change
not become operative for 30 days after the date of the filing so that
it may become operative on the date of filing.
The Exchange notes that the proposed rule change is intended to
mitigate confidentiality concerns raised in connection with Section
VII(A) of the Plan, which provides that the data made publicly
available will not identify the Trading Center that generated the data.
The Exchange states that the additional time would allow consideration
of a methodology to mitigate concerns related to the publication of
Appendix B data.\15\
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\15\ The Commission recently approved a FINRA proposal to
implement an aggregated, anonymous grouped masking methodology for
the publication of Appendix B data related to OTC trading activity.
See Securities Exchange Release No. 80551, (April 28, 2017), 82 FR
20948 (May 4, 2017). See also Letter from David S. Shillman,
Associate Director, Division of Trading and Markets, Commission, to
Marcia E. Asquith, Executive Vice President FINRA, dated April 28,
2017.
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The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest
because it will synchronize the timing for publication of Appendix B
data for all Participants, which should enhance the consistency and
usefulness of the data.\16\ Therefore, the Commission hereby waives the
30-day operative delay and designates the proposed rule change to be
operative on the date of filing.\17\
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\16\ The Commission recently granted exemptive relief to the
Participants delay the publication of their Appendix B data until
August 31, 2017. See Letter from David S. Shillman, Associate
Director, Division of Trading and Markets, Commission, to Jennifer
Piorko Mitchell, Vice President and Deputy Corporate Secretary,
FINRA, dated April 28, 2017. The Commission notes that other
Participants have submitted proposed rule changes to delay the
publication of Appendix B data until August 31, 2017. See e.g., SR-
BatsBZX-2017-31; BatsBYX-2017-10; SR-BatsEDGA-2017-10; SR-BX-2017-
022; SR-CHX-2017-07; SR-FINRA-2017-010; SR-IEX-2017-12; SR-NASDAQ-
2017-044; SR-Phlx-2017-33; SR-NYSE-2017-19; SR-NYSEArca-2017-49; SR-
NYSEMKT-2017-24.
\17\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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.
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:
[[Page 23481]]
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-BatsEDGX-2017-19 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-BatsEDGX-2017-19. 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/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 the 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-BatsEDGX-2017-19 and should
be submitted on or before June 12, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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\18\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-10311 Filed 5-19-17; 8:45 am]
BILLING CODE 8011-01-P
