Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule To Amend EDGA Rule 11.9 To Introduce Additional Routing Options to the Rule, 20797-20799 [2011-8851]
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Federal Register / Vol. 76, No. 71 / Wednesday, April 13, 2011 / Notices
2. Statutory Basis
Extension of the pilot period will
allow the Exchange to continue to
operate the pilot on an uninterrupted
basis. Accordingly, CBOE believes the
proposed rule change is consistent with
the Act 7 and the rules and regulations
under the Act applicable to a national
securities exchange and, in particular,
the requirements of Section 6(b) of the
Act.8 Specifically, the Exchange
believes the proposed rule change is
consistent with the Section 6(b)(5) 9
requirements that the rules of an
exchange be designed to promote just
and equitable principles of trade, to
prevent fraudulent and manipulative
acts and, in general, to protect investors
and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposal.
mstockstill on DSKH9S0YB1PROD with 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 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 10 and Rule 19b–
4(f)(6)(iii) thereunder.11 The Exchange
has asked the Commission to waive the
30-day operative delay so that the
proposal may become operative
immediately upon filing. The
Commission believes that waiving the
Products. See Interpretation and Policy .03 to Rule
6.3C.
7 15 U.S.C. 78a et seq.
8 15 U.S.C. 78(f)(b).
9 15 U.S.C. 78(f)(b)(5).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule
19b–4(f)(6)(iii) requires that a self-regulatory
organization submit to the Commission written
notice of its intent to file the proposed rule change,
along with a brief description and text of the
proposed rule change, at least five business days
prior to the filing of the proposed rule change, or
such shorter time as designated by the Commission.
The Commission notes that the Exchange has
satisfied this requirement.
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30-day operative delay is consistent
with the protection of investors and the
public interest because such waiver will
allow the pilot program to continue
uninterrupted and help ensure
uniformity among the national
securities exchanges and FINRA with
respect to the treatment of clearly
erroneous transactions.12 Accordingly,
the Commission waives the 30-day
operative delay requirement and
designates the proposed rule change as
operative upon filing with the
Commission.
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.
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:
20797
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
publicly available. All submissions
should refer to File Number SR–CBOE–
2011–032 and should be submitted on
or before May 4, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–8790 Filed 4–12–11; 8:45 am]
BILLING CODE 8011–01–P
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–CBOE–2011–032 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–CBOE–2011–032. 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
12 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
PO 00000
Frm 00175
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64252; File No. SR–EDGA–
2011–09]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule To Amend EDGA Rule 11.9 To
Introduce Additional Routing Options
to the Rule
April 7, 2011.
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 April 1,
2011, the EDGA Exchange, Inc. (the
‘‘Exchange’’ or the ‘‘EDGA’’) 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 self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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13APN1
20798
Federal Register / Vol. 76, No. 71 / Wednesday, April 13, 2011 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 11.9 to introduce additional
routing options to the rule. The text of
the proposed rule change is attached as
Exhibit 5 and is available on the
Exchange’s Web site at https://
www.directedge.com, at the Exchange’s
principal office, on the Commission’s
Web site at https://www.sec.gov, and at
the Public Reference Room of the
Commission.
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
self-regulatory organization has
prepared summaries, set forth in
Sections A, B and C below, of the most
significant aspects of such statements.
mstockstill on DSKH9S0YB1PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange’s current list of routing
options are codified in Rule 11.9(b)(3).
In this filing, the Exchange proposes to
amend Rule 11.9(b)(3) to add three new
additional strategies.
In Rule 11.9(b)(3), the Exchange
describes that its system (‘‘System’’)
provides a variety of routing options.
Routing options may be combined with
all available order types and times-inforce, with the exception of order types
and times-in-force whose terms are
inconsistent with the terms of a
particular routing option. The System
will consider the quotations only of
accessible markets. The term ‘‘System
routing table’’ refers to the proprietary
process for determining the specific
trading venues to which the System
routes orders and the order in which it
routes them. The Exchange reserves the
right to maintain a different System
routing table for different routing
options and to modify the System
routing table at any time without notice.
The new System routing options are
described in more detail below.
The Exchange proposes to describe
the ICMT routing strategy and add it to
Rule 11.9(b)(3)(r). ICMT is a routing
strategy under which an order checks
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18:37 Apr 12, 2011
Jkt 223001
the System for available shares, then is
sent to destinations on the System
routing table and then to EDGX
Exchange, Inc. (‘‘EDGX’’) as an
immediate or cancel (IOC) Mid-Point
Match (‘‘MPM’’)order.3 If there is no
liquidity at EDGX to execute at the
midpoint, the order is subsequently
cancelled.
The Exchange proposes to describe
the ROUQ routing strategy and add it to
Rule 11.9(b)(3)(c)(iv). ROUQ is a routing
option under which an order checks the
System for available shares and then is
sent to destinations on the System
routing table.
The Exchange proposes to describe
the ROUZ routing strategy and add it to
Rule 11.9(b)(3)(c)(v). ROUZ is a routing
option under which an order checks the
System for available shares and then is
sent to destinations on the System
routing table.
The differences between the latter two
strategies lies in the differences in the
System routing tables for the ROUQ/
ROUZ strategies. The ROUQ routing
strategy goes to fewer low cost
destinations than does the ROUZ
routing strategy.
The Exchange also proposes to move
the existing descriptions of ROUE,
ROUT, and ROUX into Rule
11.9(b)(3)(c)(i)–(iii), respectively.
Formerly, the descriptions were in
Rules 11.9(b)(3)(c) for ROUE,
11.9(b)(3)(h) for ROUT, and 11.9(b)(3)(i)
for ROUX.
The Exchange proposes to make
conforming changes to the rest of the
rule to re-letter the sections accordingly.
The Exchange believes that the
proposed introduction of these routing
options, described above, will provide
market participants with greater
flexibility in routing orders, without
having to develop their own
complicated routing strategies.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b)(5) of the Act’’,4 which
requires the rules of an exchange to
promote just and equitable principles of
trade, 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
3 EDGX Rule 11.5(c)(7) defines a Mid-Point Match
(MPM) order as an order with an instruction to
execute it at the midpoint of the NBBO. A MPM
order may be a Day Order, Fill-or-Kill Order, or IOC
Order. The Exchange notes that members can send
in a MPM order directly to EDGX without routing
through the EDGA platform as an ICMT routing
option.
4 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00176
Fmt 4703
Sfmt 4703
proposed change to introduce the
routing options described above will
provide market participants with greater
flexibility in routing orders without
developing complicated order routing
strategies on their own.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
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 5 and Rule 19b–4
(f)(6)(iii) thereunder.6
A proposed rule change filed under
Rule 19b–4 (f)(6) normally may not
become operative prior to 30 days after
the date of filing.7 However, Rule 19b–
4(f)(6) 8 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day operative
delay so that the proposal may become
operative upon filing. The Exchange
notes that waiver of this requirement
will allow the Exchange to immediately
offer Exchange users new routing
strategies, and the inability to
immediately offer the new routing
strategies would put the Exchange at a
competitive disadvantage. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest because such waiver
would allow the new routing strategies
to become immediately available to
5 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6)(iii).
7 17 CFR 240.19b–4(f)(6)(iii).
8 Id.
6 17
E:\FR\FM\13APN1.SGM
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Federal Register / Vol. 76, No. 71 / Wednesday, April 13, 2011 / Notices
Exchange users. For this reason, the
Commission designates the proposed
rule change to be operative upon filing
with the Commission.9
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.
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
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–8851 Filed 4–12–11; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #12524 and #12525]
• 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–EDGA–2011–09 on the
subject line.
mstockstill on DSKH9S0YB1PROD with NOTICES
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–EDGA–2011–09 and should
be submitted on or before May 4, 2011.
Wisconsin Disaster #WI–00029
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
VerDate Mar<15>2010
18:37 Apr 12, 2011
Jkt 223001
Primary Counties: Dane, Dodge, Grant,
Iowa, Kenosha, Lafayette,
Milwaukee, Racine, Walworth,
Washington.
The Interest Rates are:
Percent
For Physical Damage:
Non-Profit Organizations With
Credit Available Elsewhere:
Non-Profit
Organizations
Without Credit Available
Elsewhere: .........................
For Economic Injury:
Non-Profit
Organizations
Without Credit Available
Elsewhere: .........................
3.250
3.000
3.000
The number assigned to this disaster
for physical damage is 12524B and for
economic injury is 12525B.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
James E. Rivera,
Associate Administrator for Disaster
Assistance.
[FR Doc. 2011–8774 Filed 4–12–11; 8:45 am]
BILLING CODE 8025–01–P
This is a Notice of the
Presidential declaration of a major
Paper Comments
disaster for Public Assistance Only for
the State of Wisconsin (FEMA–1966–
• Send paper comments in triplicate
DR), dated 04/05/2011.
to Elizabeth M. Murphy, Secretary,
Incident: Severe Winter Storm and
Securities and Exchange Commission,
Snowstorm.
100 F Street, NE., Washington, DC
Incident Period: 01/31/2011 through
20549–1090.
02/03/2011.
All submissions should refer to File
Effective Date: 04/05/2011.
Number SR–EDGA–2011–09. This file
Physical Loan Application Deadline
number should be included on the
subject line if e-mail is used. To help the Date: 06/06/2011.
Economic Injury (EIDL) Loan
Commission process and review your
Application Deadline Date: 01/05/2012.
comments more efficiently, please use
only one method. The Commission will ADDRESSES: Submit completed loan
post all comments on the Commission’s applications to: U.S. Small Business
Administration, Processing and
Internet Web site (https://www.sec.gov/
Disbursement Center, 14925 Kingsport
rules/sro.shtml). Copies of the
Road, Fort Worth, TX 76155.
submission, all subsequent
amendments, all written statements
FOR FURTHER INFORMATION CONTACT:
with respect to the proposed rule
Alan Escobar, Office of Disaster
change that are filed with the
Assistance, U.S. Small Business
Commission, and all written
Administration, 409 3rd Street, SW.,
communications relating to the
Suite 6050, Washington, DC 20416.
proposed rule change between the
SUPPLEMENTARY INFORMATION: Notice is
Commission and any person, other than hereby given that as a result of the
those that may be withheld from the
President’s major disaster declaration on
public in accordance with the
04/05/2011, Private Non-Profit
provisions of 5 U.S.C. 552, will be
organizations that provide essential
available for Web site viewing and
services of governmental nature may file
printing in the Commission’s Public
disaster loan applications at the address
Reference Room on official business
listed above or other locally announced
days between the hours of 10 a.m. and
locations.
3 p.m. Copies of such filing also will be
The following areas have been
determined to be adversely affected by
9 For the purposes only of waiving the 30-day
operative delay, the Commission has considered the the disaster:
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
20799
SUMMARY:
10 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00177
Fmt 4703
Sfmt 4703
SMALL BUSINESS ADMINISTRATION
Intermediary Lending Pilot Program
Meeting
U.S. Small Business
Administration (SBA).
ACTION: Notice of open meetings.
AGENCY:
The SBA is issuing this notice
to announce the locations, dates, times,
and agendas for public meetings
regarding the Intermediary Lending
Pilot (ILP) program established by the
Small Business Jobs Act of 2010. The
meetings will be open to the public.
DATES: The meeting dates and times are:
1. April 27, 2011, 9 a.m. to 11 a.m.,
San Francisco, CA.
2. May 5, 2011, 9 a.m. to 11 a.m.,
Washington, DC.
ADDRESSES: The meeting locations are:
1. San Francisco—SBA San Francisco
District Office (Entrepreneur Center),
455 Market Street, Suite 600, San
Francisco, CA 94105–2420.
2. Washington, DC—SBA Washington
Metropolitan Area District Office
(Conference Room), 740 15th Street,
NW., Suite 300, Washington, DC 20005.
SUPPLEMENTARY INFORMATION: The SBA
is holding open meetings to discuss the
ILP program established in the Small
Business Jobs Act of 2010 (Pub. L. 111–
240). The ILP program is a three-year
pilot program in which SBA will make
direct loans of up to $1 million at an
interest rate of 1 percent to up to 20
SUMMARY:
E:\FR\FM\13APN1.SGM
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]]>Agencies
[Federal Register Volume 76, Number 71 (Wednesday, April 13, 2011)]
[Notices]
[Pages 20797-20799]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-8851]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-64252; File No. SR-EDGA-2011-09]
Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule To Amend EDGA Rule
11.9 To Introduce Additional Routing Options to the Rule
April 7, 2011.
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 April 1, 2011, the EDGA Exchange, Inc. (the ``Exchange'' or the
``EDGA'') 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 self-regulatory
organization. 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.
---------------------------------------------------------------------------
[[Page 20798]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Rule 11.9 to introduce additional
routing options to the rule. The text of the proposed rule change is
attached as Exhibit 5 and is available on the Exchange's Web site at
https://www.directedge.com, at the Exchange's principal office, on the
Commission's Web site at https://www.sec.gov, and at the Public
Reference Room of the Commission.
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 self-regulatory organization has prepared summaries,
set forth in Sections A, B and C below, of the most significant aspects
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's current list of routing options are codified in Rule
11.9(b)(3). In this filing, the Exchange proposes to amend Rule
11.9(b)(3) to add three new additional strategies.
In Rule 11.9(b)(3), the Exchange describes that its system
(``System'') provides a variety of routing options. Routing options may
be combined with all available order types and times-in-force, with the
exception of order types and times-in-force whose terms are
inconsistent with the terms of a particular routing option. The System
will consider the quotations only of accessible markets. The term
``System routing table'' refers to the proprietary process for
determining the specific trading venues to which the System routes
orders and the order in which it routes them. The Exchange reserves the
right to maintain a different System routing table for different
routing options and to modify the System routing table at any time
without notice. The new System routing options are described in more
detail below.
The Exchange proposes to describe the ICMT routing strategy and add
it to Rule 11.9(b)(3)(r). ICMT is a routing strategy under which an
order checks the System for available shares, then is sent to
destinations on the System routing table and then to EDGX Exchange,
Inc. (``EDGX'') as an immediate or cancel (IOC) Mid-Point Match
(``MPM'')order.\3\ If there is no liquidity at EDGX to execute at the
midpoint, the order is subsequently cancelled.
---------------------------------------------------------------------------
\3\ EDGX Rule 11.5(c)(7) defines a Mid-Point Match (MPM) order
as an order with an instruction to execute it at the midpoint of the
NBBO. A MPM order may be a Day Order, Fill-or-Kill Order, or IOC
Order. The Exchange notes that members can send in a MPM order
directly to EDGX without routing through the EDGA platform as an
ICMT routing option.
---------------------------------------------------------------------------
The Exchange proposes to describe the ROUQ routing strategy and add
it to Rule 11.9(b)(3)(c)(iv). ROUQ is a routing option under which an
order checks the System for available shares and then is sent to
destinations on the System routing table.
The Exchange proposes to describe the ROUZ routing strategy and add
it to Rule 11.9(b)(3)(c)(v). ROUZ is a routing option under which an
order checks the System for available shares and then is sent to
destinations on the System routing table.
The differences between the latter two strategies lies in the
differences in the System routing tables for the ROUQ/ROUZ strategies.
The ROUQ routing strategy goes to fewer low cost destinations than does
the ROUZ routing strategy.
The Exchange also proposes to move the existing descriptions of
ROUE, ROUT, and ROUX into Rule 11.9(b)(3)(c)(i)-(iii), respectively.
Formerly, the descriptions were in Rules 11.9(b)(3)(c) for ROUE,
11.9(b)(3)(h) for ROUT, and 11.9(b)(3)(i) for ROUX.
The Exchange proposes to make conforming changes to the rest of the
rule to re-letter the sections accordingly.
The Exchange believes that the proposed introduction of these
routing options, described above, will provide market participants with
greater flexibility in routing orders, without having to develop their
own complicated routing strategies.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b)(5) of the Act'',\4\ which requires the rules of an
exchange to promote just and equitable principles of trade, 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 proposed change to introduce the routing options
described above will provide market participants with greater
flexibility in routing orders without developing complicated order
routing strategies on their own.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
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 \5\ and Rule 19b-4
(f)(6)(iii) thereunder.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4 (f)(6) normally may
not become operative prior to 30 days after the date of filing.\7\
However, Rule 19b-4(f)(6) \8\ permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange has requested that the
Commission waive the 30-day operative delay so that the proposal may
become operative upon filing. The Exchange notes that waiver of this
requirement will allow the Exchange to immediately offer Exchange users
new routing strategies, and the inability to immediately offer the new
routing strategies would put the Exchange at a competitive
disadvantage. The Commission believes that waiving the 30-day operative
delay is consistent with the protection of investors and the public
interest because such waiver would allow the new routing strategies to
become immediately available to
[[Page 20799]]
Exchange users. For this reason, the Commission designates the proposed
rule change to be operative upon filing with the Commission.\9\
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\7\ 17 CFR 240.19b-4(f)(6)(iii).
\8\ Id.
\9\ For the purposes only of waiving the 30-day operative delay,
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.
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-EDGA-2011-09 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-EDGA-2011-09. 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 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-
EDGA-2011-09 and should be submitted on or before May 4, 2011.
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)(12).
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Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-8851 Filed 4-12-11; 8:45 am]
BILLING CODE 8011-01-P
