Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc., 20418-20420 [2010-8860]

Download as PDF 20418 Federal Register / Vol. 75, No. 74 / Monday, April 19, 2010 / Notices 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: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.5 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–8946 Filed 4–16–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEArca–2010–28 on the subject line. Paper Comments [Release No. 34–61883; File No. SR–BATS– 2010–007] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc. April 9, 2010. wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1 • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. 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 March 31, 2010, BATS Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BATS’’) filed with the All submissions should refer to File Securities and Exchange Commission Number SR–NYSEArca–2010–28. This (‘‘Commission’’) the proposed rule file number should be included on the change as described in Items I, II and III subject line if e-mail is used. To help the below, which Items have been prepared Commission process and review your by the Exchange. BATS has designated the proposed rule change as one comments more efficiently, please use only one method. The Commission will establishing or changing a member due, post all comments on the Commission’s fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) Internet Web site (https://www.sec.gov/ of the Act 3 and Rule 19b–4(f)(2) rules/sro.shtml). Copies of the thereunder,4 which renders the submission, all subsequent proposed rule change effective upon amendments, all written statements filing with the Commission. The with respect to the proposed rule Commission is publishing this notice to change that are filed with the solicit comments on the proposed rule Commission, and all written change from interested persons. communications relating to the proposed rule change between the I. Self-Regulatory Organization’s Commission and any person, other than Statement of the Terms of Substance of the Proposed Rule Change those that may be withheld from the public in accordance with the The Exchange proposes to modify its provisions of 5 U.S.C. 552, will be fee schedule applicable to Members 5 of available for Web site viewing and the Exchange pursuant to BATS Rules printing in the Commission’s Public 15.1(a) and (c). While changes to the fee Reference Room, 100 F Street, NE., schedule pursuant to this proposal will Washington, DC 20549, on official be effective upon filing, the changes will business days between the hours of 10 become operative on April 1, 2010. a.m. and 3 p.m. Copies of such filing The text of the proposed rule change also will be available for inspection and is available at the Exchange’s Web site at https://www.batstrading.com, on the copying at the principal office of NYSE Commission’s Web site at https:// Arca. All comments received will be posted without change; the Commission www.sec.gov, at the principal office of the Exchange, and at the Commission’s does not edit personal identifying Public Reference Room. information from submissions. You should submit only information that 5 17 CFR 200.30–3(a)(12). you wish to make publicly available. All 1 15 U.S.C. 78s(b)(1). submissions should refer to File 2 17 CFR 240.19b–4. Number SR–NYSEArca–2010–28 and 3 15 U.S.C. 78s(b)(3)(A)(ii). should be submitted on or before May 4 17 CFR 240.19b–4(f)(2). 5 A Member is any registered broker or dealer that 10, 2010. has been admitted to membership in the Exchange. VerDate Nov<24>2008 15:04 Apr 16, 2010 Jkt 220001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to modify its fee schedule applicable to use of the Exchange effective April 1, 2010, in order to: (i) Increase the fee charged by the Exchange for its ‘‘CYCLE’’ and ‘‘RECYCLE’’ routing strategies from $0.0027 per share to $0.0028 per share; (ii) amend the fees for certain destination specific routing options to continue to offer a ‘‘one under’’ pricing model; (iii) adopt pricing for ‘‘BATS + DART Destination Specific Orders’’; and (iv) make other technical changes to the fee schedule. (i) Increase in Routing Fees for ‘‘CYCLE’’ and ‘‘RECYCLE’’ Routing Based on increased fees at various market centers to remove liquidity, the Exchange proposes to modify the fee charged by the Exchange for its ‘‘CYCLE’’ and ‘‘RECYCLE’’ routing strategies from $0.0027 per share to $0.0028 per share. To be consistent with this change, the Exchange proposes to charge 0.28%, rather than 0.27%, of the total dollar value of the execution for any security (all Tapes) priced under $1.00 per share that is routed away from the Exchange through CYCLE or RECYCLE. (ii) One Under Pricing for Destination Specific Orders The Exchange has previously provided a discounted price fee for Destination Specific Orders routed to certain of the largest market centers measured by volume (NYSE, NYSE Arca and NASDAQ), which, in each instance has been $0.0001 less per share for orders routed to such market centers by the Exchange than such market centers currently charge for removing liquidity (referred to by the Exchange as ‘‘One Under’’ pricing). Based on changes in E:\FR\FM\19APN1.SGM 19APN1 Federal Register / Vol. 75, No. 74 / Monday, April 19, 2010 / Notices pricing at such market centers, BATS is proposing various changes to its prices for Destination Specific Orders to align its fees so they are $0.0001 less per share for orders routed to such market centers as of April 1, 2010. Specifically, because NASDAQ has eliminated the distinction in its fees between Tape A, B, and C securities the Exchange proposes to eliminate that same distinction for BATS + NASDAQ Destination Specific Orders. Thus, the Exchange proposes to normalize the fee charged for BATS + NASDAQ Destination Specific Orders executed at NASDAQ at $0.0029 per share. Also, based on a change to pricing at NYSE Arca, the Exchange proposes to increase the charge from $0.0027 per share to $0.0028 per share for BATS + NYSE Arca Destination Specific Orders executed at NYSE Arca in Tape A and C securities. The Exchange will retain the fee of $0.0027 per share for BATS + NYSE Arca Destination Specific Orders executed at NYSE Arca in Tape B securities. Each of the changes described above will result in the Exchange charging $0.0001 less per share for orders routed to certain market centers as Destination Specific Orders. wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1 (iii) Pricing for BATS + DART Destination Specific Orders Effective April 1, 2010, the Exchange will offer functionality that will permit Users to designate orders to route to various Alternative Trading Systems selected by the Exchange after first being exposed to the BATS Book (a ‘‘BATS + DART Destination Specific Order’’). In conjunction with this new functionality, the Exchange is proposing to amend the fee schedule to include pricing for BATS + DART Destination Specific Orders. The Exchange currently offers DART routing as part of its general best execution routing. Consistent with the current pricing for the DART best execution routing functionality, the Exchange proposes to charge $0.0020 per share for a BATS + DART Destination Specific Order executed by an Alternative Trading System. (iv) Technical Changes to Fee Schedule The Exchange proposes to correct a typographical error on the fee schedule. Also, the Exchange proposes to add a clarifying parenthetical to its description of physical connection charges, which are charged based on ‘‘pairs.’’ As it does within the Equities Pricing/Port Fees section of the fee schedule, the Exchange proposes to make clear that a pair is comprised of one port at site of the Exchange’s primary data center and one port at the VerDate Nov<24>2008 15:04 Apr 16, 2010 Jkt 220001 site of the Exchange’s secondary data center. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6 of the Act.6 Specifically, the Exchange believes that the proposed rule change is consistent with Section 6(b)(4) of the Act,7 in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and other persons using any facility or system which the Exchange operates or controls. The Exchange notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive. In addition, the Exchange believes that the proposed rates are equitable in that they apply uniformly to all Members. (B) Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change imposes any burden on competition. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has been designated as a fee change pursuant to Section 19(b)(3)(A)(ii) of the Act 8 and Rule 19b–4(f)(2) thereunder,9 because it establishes or changes a due, fee or other charge imposed on members by the Exchange. Accordingly, the proposal is effective upon filing with the Commission. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate 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. 6 15 U.S.C. 78f. U.S.C. 78f(b)(4). 8 15 U.S.C. 78s(b)(3)(A)(ii). 9 17 CFR 240.19b–4(f)(2). 7 15 PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 20419 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 e-mail to rulecomments@sec.gov. Please include File Number SR–BATS–2010–007 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 SR–BATS–2010–007. This file number should be included on the subject line if e-mail 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 a.m. and 3 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–BATS– 2010–007 and should be submitted on or before May 10, 2010. E:\FR\FM\19APN1.SGM 19APN1 20420 Federal Register / Vol. 75, No. 74 / Monday, April 19, 2010 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–8860 Filed 4–16–10; 8:45 am] BILLING CODE 8011–01–P of Transportation Statistics, United States Department of Transportation, 1200 New Jersey Ave., SE., Washington, DC 20590. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM OF RECORDS: DOT intends to establish a system of records under the Privacy Act of 1974. DATES: Effective Date: June 1, 2010. If no comments are received, the proposal will become effective on the above date. If comments are received, the comments will be considered and, where adopted, the documents will be republished with changes. ADDRESSES: Send comments to: Habib Azarsina, Departmental Privacy Officer, S–80, United States Department of Transportation, Office of the Secretary of Transportation, 1200 New Jersey Ave., SE., Washington, DC 20590, or habib.azarsina@dot.gov. Railroad employees who report close calls to BTS, either by telephone or mail, as part of a five-year demonstration/research project are covered by this system of records. These individuals are employees of three rail carriers participating in the C3RS demonstration project. The rail carriers are: Union Pacific Railroad, Canadian Pacific Railroad, and New Jersey Transit. The C3RS demonstration project is a research effort to improve safety by using information from close call events to prevent serious accidents in the rail industry. A close call or near miss is an unsafe event with the potential for a more serious incident resulting in greater injury to personnel or damage to equipment above FRA’s reportable threshold level. Employees can report about a near miss event that happened to their crew or an event they witnessed about another crew (third party reporting). In the case of third party reporting, the employee does not provide any PII information on those involved in the reported close call. Reporting employees are not allowed to make anonymous close call reports. FOR FURTHER INFORMATION CONTACT: CATEGORIES OF RECORDS IN THE SYSTEM: Habib Azarsina, Departmental Privacy Officer, S–80, United States Department of Transportation, Office of the Secretary of Transportation, 1200 New Jersey Ave., SE., Washington, DC 20590, telephone 202–366–1965 or habib.azarsina@dot.gov Records in the C3RS system contain information pertinent to an actual close call event submitted to BTS in a C3RS report. The following PII data elements are included in every C3RS report accepted into the system: The reporting employee’s name, age, job classification, home address, and home and mobile telephone number(s) (if available). DEPARTMENT OF TRANSPORTATION Office of the Secretary Privacy Act of 1974: System of Records AGENCY: Bureau of Transportation Statistics, DOT. ACTION: Notice to establish a system of records. SUMMARY: The Department of Transportation system of records notice subject to the Privacy Act of 1974 (5 U.S.C. 552a), as amended, has been published in the Federal Register and is available from the above mentioned address. SUPPLEMENTARY INFORMATION: AUTHORITY FOR MAINTENANCE OF THE SYSTEM: SYSTEM NAME: wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1 SYSTEM NUMBER: DOT/ALL 21 Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA–LU), which was enacted August 10, 2005 as Public Law 109–59. PURPOSES: Close Call Confidentiality Reporting System (C3RS). SECURITY CLASSIFICATION: Unclassified, sensitive. SYSTEM LOCATION: The system is housed on a standalone desktop in the C3RS secure room located in room E36–311 at the Bureau 10 17 CFR 200.30–3(a)(12). VerDate Nov<24>2008 15:04 Apr 16, 2010 Jkt 220001 The C3RS collects name, home address, and telephone number(s) of railroad employees reporting close calls events to BTS. Qualified BTS/C3RS staff will use the contact information as follows: • The employee’s name and home telephone number will be used to generate and give the employee his/her unique confirmation number, upon receiving the employee’s close call phone message; PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 • The employee’s name and home telephone number will be used to notify the employee that BTS has received the employee’s C3RS report and to schedule an interview time with the employee for further discussion of the close call incident; • The employee’s name and home telephone number will be used to initiate the close call interview; • The employee’s name and home address will be used to create and mail out a confirmation/rejection letter notifying the employee about the status of his/her close call report; and • The employee’s job classification will be used to understand the employee’s role in the close call incident. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: BTS does not share PII information collected for the C3RS study with other entities. A primary goal of the C3RS is to protect the identity of any employee who reports a close call incident to BTS. Reports collected and maintained in the C3RS are protected from disclosure as provided in the BTS confidentiality statute (49 U.S.C. 111(k)) and the Confidential Information Protection and Statistical Efficiency Act (CIPSEA) of 2002. DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: The C3RS Demonstration Project stores all data in an electronic database in a stand-alone desktop computer attached to a non-network printer. The computer and printer are in a secure data collection room. Hard-copy documents (work papers) are stored in the secure room and shredded after project completion. RETRIEVABILITY: Records are retrieved from the C3RS database by confirmation number, which uniquely identifies individual reports and by employee identification numbers. SAFEGUARDS: All the information BTS obtains, including the PII data, is kept in a secure room in the Department of Transportation Headquarters building in Washington, DC. Only members of the C3RS team who have taken confidentiality training and signed a non-disclosure agreement have access to E:\FR\FM\19APN1.SGM 19APN1

Agencies

[Federal Register Volume 75, Number 74 (Monday, April 19, 2010)]
[Notices]
[Pages 20418-20420]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-8860]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61883; File No. SR-BATS-2010-007]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change Related to 
Fees for Use of BATS Exchange, Inc.

April 9, 2010.
    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 March 31, 2010, BATS Exchange, Inc. (the ``Exchange'' or 
``BATS'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I, II 
and III below, which Items have been prepared by the Exchange. BATS has 
designated the proposed rule change as one establishing or changing a 
member due, fee, or other charge imposed by the Exchange under Section 
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ 
which renders the proposed rule change 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)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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

    The Exchange proposes to modify its fee schedule applicable to 
Members \5\ of the Exchange pursuant to BATS Rules 15.1(a) and (c). 
While changes to the fee schedule pursuant to this proposal will be 
effective upon filing, the changes will become operative on April 1, 
2010.
---------------------------------------------------------------------------

    \5\ A Member is any registered broker or dealer that has been 
admitted to membership in the Exchange.
---------------------------------------------------------------------------

    The text of the proposed rule change is available at the Exchange's 
Web site at https://www.batstrading.com, on the Commission's Web site at 
https://www.sec.gov, 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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to modify its fee schedule applicable to use 
of the Exchange effective April 1, 2010, in order to: (i) Increase the 
fee charged by the Exchange for its ``CYCLE'' and ``RECYCLE'' routing 
strategies from $0.0027 per share to $0.0028 per share; (ii) amend the 
fees for certain destination specific routing options to continue to 
offer a ``one under'' pricing model; (iii) adopt pricing for ``BATS + 
DART Destination Specific Orders''; and (iv) make other technical 
changes to the fee schedule.
(i) Increase in Routing Fees for ``CYCLE'' and ``RECYCLE'' Routing
    Based on increased fees at various market centers to remove 
liquidity, the Exchange proposes to modify the fee charged by the 
Exchange for its ``CYCLE'' and ``RECYCLE'' routing strategies from 
$0.0027 per share to $0.0028 per share. To be consistent with this 
change, the Exchange proposes to charge 0.28%, rather than 0.27%, of 
the total dollar value of the execution for any security (all Tapes) 
priced under $1.00 per share that is routed away from the Exchange 
through CYCLE or RECYCLE.
(ii) One Under Pricing for Destination Specific Orders
    The Exchange has previously provided a discounted price fee for 
Destination Specific Orders routed to certain of the largest market 
centers measured by volume (NYSE, NYSE Arca and NASDAQ), which, in each 
instance has been $0.0001 less per share for orders routed to such 
market centers by the Exchange than such market centers currently 
charge for removing liquidity (referred to by the Exchange as ``One 
Under'' pricing). Based on changes in

[[Page 20419]]

pricing at such market centers, BATS is proposing various changes to 
its prices for Destination Specific Orders to align its fees so they 
are $0.0001 less per share for orders routed to such market centers as 
of April 1, 2010. Specifically, because NASDAQ has eliminated the 
distinction in its fees between Tape A, B, and C securities the 
Exchange proposes to eliminate that same distinction for BATS + NASDAQ 
Destination Specific Orders. Thus, the Exchange proposes to normalize 
the fee charged for BATS + NASDAQ Destination Specific Orders executed 
at NASDAQ at $0.0029 per share. Also, based on a change to pricing at 
NYSE Arca, the Exchange proposes to increase the charge from $0.0027 
per share to $0.0028 per share for BATS + NYSE Arca Destination 
Specific Orders executed at NYSE Arca in Tape A and C securities. The 
Exchange will retain the fee of $0.0027 per share for BATS + NYSE Arca 
Destination Specific Orders executed at NYSE Arca in Tape B securities. 
Each of the changes described above will result in the Exchange 
charging $0.0001 less per share for orders routed to certain market 
centers as Destination Specific Orders.
(iii) Pricing for BATS + DART Destination Specific Orders
    Effective April 1, 2010, the Exchange will offer functionality that 
will permit Users to designate orders to route to various Alternative 
Trading Systems selected by the Exchange after first being exposed to 
the BATS Book (a ``BATS + DART Destination Specific Order''). In 
conjunction with this new functionality, the Exchange is proposing to 
amend the fee schedule to include pricing for BATS + DART Destination 
Specific Orders. The Exchange currently offers DART routing as part of 
its general best execution routing. Consistent with the current pricing 
for the DART best execution routing functionality, the Exchange 
proposes to charge $0.0020 per share for a BATS + DART Destination 
Specific Order executed by an Alternative Trading System.
(iv) Technical Changes to Fee Schedule
    The Exchange proposes to correct a typographical error on the fee 
schedule. Also, the Exchange proposes to add a clarifying parenthetical 
to its description of physical connection charges, which are charged 
based on ``pairs.'' As it does within the Equities Pricing/Port Fees 
section of the fee schedule, the Exchange proposes to make clear that a 
pair is comprised of one port at site of the Exchange's primary data 
center and one port at the site of the Exchange's secondary data 
center.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder that are applicable to a national securities exchange, and, 
in particular, with the requirements of Section 6 of the Act.\6\ 
Specifically, the Exchange believes that the proposed rule change is 
consistent with Section 6(b)(4) of the Act,\7\ in that it provides for 
the equitable allocation of reasonable dues, fees and other charges 
among members and other persons using any facility or system which the 
Exchange operates or controls. The Exchange notes that it operates in a 
highly competitive market in which market participants can readily 
direct order flow to competing venues if they deem fee levels at a 
particular venue to be excessive. In addition, the Exchange believes 
that the proposed rates are equitable in that they apply uniformly to 
all Members.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f.
    \7\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change imposes 
any burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants or Others

    No written comments were solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change has been designated as a fee 
change pursuant to Section 19(b)(3)(A)(ii) of the Act \8\ and Rule 19b-
4(f)(2) thereunder,\9\ because it establishes or changes a due, fee or 
other charge imposed on members by the Exchange. Accordingly, the 
proposal is effective upon filing with the Commission.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \9\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate 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.

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 e-mail to rule-comments@sec.gov. Please include 
File Number SR-BATS-2010-007 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 SR-BATS-2010-007. This file 
number should be included on the subject line if e-mail 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 
a.m. and 3 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-BATS-2010-007 and should be 
submitted on or before May 10, 2010.


[[Page 20420]]


    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-8860 Filed 4-16-10; 8:45 am]
BILLING CODE 8011-01-P
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