Joint Industry Plan; Order Approving Amendment To Add EDGA Exchange, Inc. and EDGX Exchange, Inc. as Participants to National Market System Plan Establishing Procedures Under Rule 605 of Regulation NMS, 55381 [2010-22552]

Download as PDF Federal Register / Vol. 75, No. 175 / Friday, September 10, 2010 / Notices the limits contained in section 12(d)(1)(A) of the Act, except to the extent that such Underlying Fund: (a) Acquires such securities in compliance with section 12(d)(1)(E) of the Act; (b) receives securities of another investment company as a dividend or as a result of a plan of reorganization of a company (other than a plan devised for the purpose of evading section 12(d)(1) of the Act); or (c) acquires (or is deemed to have acquired) securities of another investment company pursuant to exemptive relief from the Commission permitting such Underlying Fund to: (i) acquire securities of one or more investment companies for short-term cash management purposes, or (ii) engage in interfund borrowing and lending transactions. B. Other Investments by Same Group Fund of Funds Applicants agree that the relief to permit the Same Group Fund of Funds to invest in Other Investments shall be subject to the following condition: 13. Applicants will comply with all provisions of rule 12d1–2 under the Act, except for paragraph (a)(2), to the extent that it restricts any Same Group Fund of Funds from investing in Other Investments as described in the application. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–22623 Filed 9–9–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62823, File No. 4–51] Joint Industry Plan; Order Approving Amendment To Add EDGA Exchange, Inc. and EDGX Exchange, Inc. as Participants to National Market System Plan Establishing Procedures Under Rule 605 of Regulation NMS srobinson on DSKHWCL6B1PROD with NOTICES September 1, 2010. I. Introduction On March 30, 2010, EDGA Exchange, Inc. (‘‘EDGA’’) and EDGX Exchange, Inc. (‘‘EDGX’’) submitted to the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) in accordance with Section 11A of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 608 of Regulation NMS,2 a proposed amendment to the national market 1 15 2 17 U.S.C. 78k–1. CFR 242.608. VerDate Mar<15>2010 16:29 Sep 09, 2010 Jkt 220001 system plan establishing procedures under Rule 605 of Regulation NMS (‘‘Joint-SRO Plan’’ or ‘‘Plan’’).3 Under the proposed amendment, EGDA and EDGX would be added as participants to the Joint-SRO Plan. Notice of filing and an order granting temporary effectiveness of the proposal were published in the Federal Register on April 9, 2010.4 The Commission did not receive any comments on the proposed amendment. This order approves the amendment on a permanent basis. II. Discussion The Joint-SRO Plan establishes procedures for market centers to follow in making their monthly reports required pursuant to Rule 605 of Regulation NMS, available to the public in a uniform, readily accessible, and usable electronic format. The current participants to the Joint-SRO Plan are the American Stock Exchange LLC (n/k/ a NYSE Amex, Inc.), BATS Exchange, Inc., Boston Stock Exchange, Inc. (n/k/ a NASDAQ OMX BX, Inc.), Chicago Board Options Exchange, Incorporated, Chicago Stock Exchange, Inc., Cincinnati Stock Exchange, Inc. (n/k/a National Stock ExchangeSM), International Securities Exchange, LLC, The NASDAQ Stock Market LLC, National Association of Securities Dealers, Inc. (n/k/a Financial Industry Regulatory Authority, Inc.), New York Stock Exchange, Inc. (n/k/a New York Stock Exchange LLC), Pacific Exchange, Inc. (n/k/a NYSE Arca, Inc.), and Philadelphia Stock Exchange, Inc. (n/k/ a NASDAQ OMX PHLX, Inc.). The proposed amendment would add EDGA and EDGX as participants to the JointSRO Plan. Section III(b) of the Joint-SRO Plan provides that a national securities exchange or national securities association may become a party to the Plan by: (i) Executing a copy of the Plan, as then in effect (with the only changes being the addition of the new participant’s name in Section 11(a) of the Plan and the new participant’s single-digit code in Section VI(a)(1) of the Plan) and (ii) submitting such executed plan to the Commission for approval. Each of EDGA and EDGX has submitted a signed copy of the JointSRO Plan to the Commission in 3 17 CFR 242.605. On April 12, 2001, the Commission approved a national market system plan for the purpose of establishing procedures for market centers to follow in making their monthly reports available to the public under Rule 11Ac1– 5 under the Act (n/k/a Rule 605 of Regulation NMS). See Securities Exchange Act Release No. 44177 (April 12, 2001), 66 FR 19814 (April 17, 2001). 4 See Securities Exchange Act Release No. 61824 (April 1, 2010), 75 FR 18246 (April 9, 2010). PO 00000 Frm 00081 Fmt 4703 Sfmt 9990 55381 accordance with the procedures set forth in the Plan regarding new participants. The Commission finds that the amendment to the Joint-SRO Plan is consistent with the requirements of the Act and the rules and regulations thereunder. Specifically, the Commission finds that the proposed amendment, which permits EDGA and EDGX to become participants to the Joint-SRO Plan, is consistent with the requirements of Section 11A of the Act,5 and Rule 608 of Regulation NMS.6 The Plan established appropriate procedures for market centers to follow in making their monthly reports required pursuant to Rule 605 of Regulation NMS, available to the public in a uniform, readily accessible, and usable electronic format. The amendment to include EDGA and EDGX as participants in the Joint-SRO Plan should contribute to the maintenance of fair and orderly markets and remove impediments to and perfect the mechanisms of a national market system by facilitating the uniform public disclosure of order execution information by all market centers. The Commission believes that it is necessary and appropriate in the public interest, for the maintenance of fair and orderly markets, to remove impediments to, and perfect mechanisms of, a national market system to allow EDGA and EDGX to become participants in the Joint-SRO Plan. The Commission finds, therefore, that approving amendment to the Joint-SRO Plan is appropriate and consistent with Section 11A of the Act.7 IV. Conclusion It is therefore ordered, pursuant to Section 11A(a)(3)(B) of the Act 8 and Rule 608 of Regulation NMS,9 that the amendment to the Joint-SRO Plan to add EDGA and EDGX as participants to the Joint-SRO Plan is approved and EDGA and EDGX are authorized to each act jointly with the other participants to the Joint-SRO Plan in planning, developing, operating, or regulating the Plan as a means of facilitating a national market system. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–22552 Filed 9–9–10; 8:45 am] BILLING CODE 8010–01–P 5 15 U.S.C. 78k–1. CFR 242.608. 7 15 U.S.C. 78k–1. 8 15 U.S.C. 78k–1(a)(3)(B). 9 17 CFR 242.608. 10 17 CFR 200.30–3(a)(29). 6 17 E:\FR\FM\10SEN1.SGM 10SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 75, Number 175 (Friday, September 10, 2010)]
[Notices]
[Page 55381]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-22552]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62823, File No. 4-51]


Joint Industry Plan; Order Approving Amendment To Add EDGA 
Exchange, Inc. and EDGX Exchange, Inc. as Participants to National 
Market System Plan Establishing Procedures Under Rule 605 of Regulation 
NMS

September 1, 2010.

I. Introduction

    On March 30, 2010, EDGA Exchange, Inc. (``EDGA'') and EDGX 
Exchange, Inc. (``EDGX'') submitted to the Securities and Exchange 
Commission (``SEC'' or ``Commission'') in accordance with Section 11A 
of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 of 
Regulation NMS,\2\ a proposed amendment to the national market system 
plan establishing procedures under Rule 605 of Regulation NMS (``Joint-
SRO Plan'' or ``Plan'').\3\ Under the proposed amendment, EGDA and EDGX 
would be added as participants to the Joint-SRO Plan. Notice of filing 
and an order granting temporary effectiveness of the proposal were 
published in the Federal Register on April 9, 2010.\4\ The Commission 
did not receive any comments on the proposed amendment. This order 
approves the amendment on a permanent basis.
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    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ 17 CFR 242.605. On April 12, 2001, the Commission approved a 
national market system plan for the purpose of establishing 
procedures for market centers to follow in making their monthly 
reports available to the public under Rule 11Ac1-5 under the Act (n/
k/a Rule 605 of Regulation NMS). See Securities Exchange Act Release 
No. 44177 (April 12, 2001), 66 FR 19814 (April 17, 2001).
    \4\ See Securities Exchange Act Release No. 61824 (April 1, 
2010), 75 FR 18246 (April 9, 2010).
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II. Discussion

    The Joint-SRO Plan establishes procedures for market centers to 
follow in making their monthly reports required pursuant to Rule 605 of 
Regulation NMS, available to the public in a uniform, readily 
accessible, and usable electronic format. The current participants to 
the Joint-SRO Plan are the American Stock Exchange LLC (n/k/a NYSE 
Amex, Inc.), BATS Exchange, Inc., Boston Stock Exchange, Inc. (n/k/a 
NASDAQ OMX BX, Inc.), Chicago Board Options Exchange, Incorporated, 
Chicago Stock Exchange, Inc., Cincinnati Stock Exchange, Inc. (n/k/a 
National Stock Exchange\SM\), International Securities Exchange, LLC, 
The NASDAQ Stock Market LLC, National Association of Securities 
Dealers, Inc. (n/k/a Financial Industry Regulatory Authority, Inc.), 
New York Stock Exchange, Inc. (n/k/a New York Stock Exchange LLC), 
Pacific Exchange, Inc. (n/k/a NYSE Arca, Inc.), and Philadelphia Stock 
Exchange, Inc. (n/k/a NASDAQ OMX PHLX, Inc.). The proposed amendment 
would add EDGA and EDGX as participants to the Joint-SRO Plan.
    Section III(b) of the Joint-SRO Plan provides that a national 
securities exchange or national securities association may become a 
party to the Plan by: (i) Executing a copy of the Plan, as then in 
effect (with the only changes being the addition of the new 
participant's name in Section 11(a) of the Plan and the new 
participant's single-digit code in Section VI(a)(1) of the Plan) and 
(ii) submitting such executed plan to the Commission for approval. Each 
of EDGA and EDGX has submitted a signed copy of the Joint-SRO Plan to 
the Commission in accordance with the procedures set forth in the Plan 
regarding new participants.
    The Commission finds that the amendment to the Joint-SRO Plan is 
consistent with the requirements of the Act and the rules and 
regulations thereunder. Specifically, the Commission finds that the 
proposed amendment, which permits EDGA and EDGX to become participants 
to the Joint-SRO Plan, is consistent with the requirements of Section 
11A of the Act,\5\ and Rule 608 of Regulation NMS.\6\ The Plan 
established appropriate procedures for market centers to follow in 
making their monthly reports required pursuant to Rule 605 of 
Regulation NMS, available to the public in a uniform, readily 
accessible, and usable electronic format. The amendment to include EDGA 
and EDGX as participants in the Joint-SRO Plan should contribute to the 
maintenance of fair and orderly markets and remove impediments to and 
perfect the mechanisms of a national market system by facilitating the 
uniform public disclosure of order execution information by all market 
centers. The Commission believes that it is necessary and appropriate 
in the public interest, for the maintenance of fair and orderly 
markets, to remove impediments to, and perfect mechanisms of, a 
national market system to allow EDGA and EDGX to become participants in 
the Joint-SRO Plan. The Commission finds, therefore, that approving 
amendment to the Joint-SRO Plan is appropriate and consistent with 
Section 11A of the Act.\7\
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    \5\ 15 U.S.C. 78k-1.
    \6\ 17 CFR 242.608.
    \7\ 15 U.S.C. 78k-1.
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IV. Conclusion

    It is therefore ordered, pursuant to Section 11A(a)(3)(B) of the 
Act \8\ and Rule 608 of Regulation NMS,\9\ that the amendment to the 
Joint-SRO Plan to add EDGA and EDGX as participants to the Joint-SRO 
Plan is approved and EDGA and EDGX are authorized to each act jointly 
with the other participants to the Joint-SRO Plan in planning, 
developing, operating, or regulating the Plan as a means of 
facilitating a national market system.
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    \8\ 15 U.S.C. 78k-1(a)(3)(B).
    \9\ 17 CFR 242.608.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(29).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-22552 Filed 9-9-10; 8:45 am]
BILLING CODE 8010-01-P

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