Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend EDGA Rule 1.5(q), 54267-54268 [2011-22218]
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Federal Register / Vol. 76, No. 169 / Wednesday, August 31, 2011 / Notices
Filing of documents. All filings of
documents in this case shall be made
using the Internet (Filing Online)
pursuant to Commission rules 9(a) and
10(a) at the Commission’s Web site,
https://www.prc.gov, unless a waiver is
obtained. See 39 CFR 3001.9(a) and
3001.10(a). Instructions for obtaining an
account to file documents online may be
found on the Commission’s Web site or
by contacting the Commission’s docket
section at prc-dockets@prc.gov or via
telephone at 202–789–6846.
The Commission reserves the right to
redact personal information which may
infringe on an individual’s privacy
rights from documents filed in this
proceeding.
Intervention. Persons, other than
Petitioner and respondent, wishing to be
heard in this matter are directed to file
a notice of intervention. See 39 CFR
3001.111(b). Notices of intervention in
this case are to be filed on or before
September 19, 2011. A notice of
intervention shall be filed using the
Internet (Filing Online) at the
Commission’s Web site unless a waiver
is obtained for hardcopy filing. See 39
CFR 3001.9(a) and 3001.10(a).
Further procedures. By statute, the
Commission is required to issue its
decision within 120 days from the date
it receives the appeal. See 39 U.S.C.
404(d)(5). A procedural schedule has
been developed to accommodate this
statutory deadline. In the interest of
expedition, in light of the 120-day
decision schedule, the Commission may
request the Postal Service or other
participants to submit information or
memoranda of law on any appropriate
issue. As required by the Commission
rules, if any motions are filed, responses
are due 7 days after any such motion is
filed. See 39 CFR 3001.21.
54267
It is ordered:
1. The Postal Service shall file the
applicable administrative record
regarding this appeal no later than
September 6, 2011.
2. Any responsive pleading by the
Postal Service to this notice is due no
later than September 6, 2011.
3. The procedural schedule listed
below is hereby adopted.
4. Pursuant to 39 U.S.C. 505, Patricia
A. Gallagher is designated officer of the
Commission (Public Representative) to
represent the interests of the general
public.
5. The Secretary shall arrange for
publication of this notice and order in
the Federal Register.
By the Commission.
Shoshana M. Grove,
Secretary.
PROCEDURAL SCHEDULE
August 22, 2011 .....................................................
September 6, 2011 ................................................
September 6, 2011 ................................................
September 19, 2011 ..............................................
September 26, 2011 ..............................................
October 17, 2011 ...................................................
November 1, 2011 .................................................
November 8, 2011 .................................................
December 13, 2011 ...............................................
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
[FR Doc. 2011–22283 Filed 8–30–11; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65196; File No. SR–EDGA–
2011–28]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend EDGA Rule
1.5(q)
jlentini on DSK4TPTVN1PROD with NOTICES
August 25, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that, on August
19, 2011, EDGA Exchange, Inc. (the
‘‘Exchange’’ or ‘‘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
1 15
U.S.C.78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Mar<15>2010
16:51 Aug 30, 2011
Jkt 223001
Filing of Appeal.
Deadline for the Postal Service to file the applicable administrative record in this appeal.
Deadline for the Postal Service to file any responsive pleading.
Deadline for notices to intervene (see 39 CFR 3001.111(b)).
Deadline for Petitioner’s Form 61 or initial brief in support of petition (see 39 CFR
3001.115(a) and (b)).
Deadline for answering brief in support of the Postal Service (see 39 CFR 3001.115(c)).
Deadline for reply briefs in response to answering briefs (see 39 CFR 3001.115(d)).
Deadline for motions by any party requesting oral argument; the Commission will schedule
oral argument only when it is a necessary addition to the written filings (see 39 CFR
3001.116).
Expiration of the Commission’s 120-day decisional schedule (see 39 U.S.C. 404(d)(5)).
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
EDGA Exchange, Inc. (‘‘EDGA’’ or the
‘‘Exchange’’), proposes to amend EDGA
Rule 1.5(q) to change the starting time
of the Pre-Opening Session from 8 a.m.
Eastern Time (‘‘ET’’) to 7 a.m. ET. The
text of the proposed rule change is
attached as Exhibit 5 and is available on
the Exchange’s Web site at
www.directedge.com, at the Exchange’s
principal office, 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
PO 00000
Frm 00078
Fmt 4703
Sfmt 4703
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 purpose of this filing is to amend
EDGA Rule 1.5(q) to change the starting
time of the Pre-Opening Session from 8
a.m. ET to 7 a.m. ET. A conforming
amendment is also made to Rule
14.1(c)(2) to change the reference for the
start time of the Pre-Opening Session
from 9 a.m.3 to 7 a.m.
The Exchange is a fully electronic
system that accommodates diverse
business models and trading
preferences. The Exchange utilizes
technology to aggregate and display
liquidity and make it available for
execution of orders. The Exchange is
3 The Exchange notes that this rule currently
contains an inaccurate reference to 9 a.m. as the
beginning of the Pre-Opening Session.
E:\FR\FM\31AUN1.SGM
31AUN1
54268
Federal Register / Vol. 76, No. 169 / Wednesday, August 31, 2011 / Notices
proposing to expand its operational
hours to open the System 4 earlier so
that firms can enter orders and execute
beginning at 7 a.m. rather than 8 a.m.
This change will allow the Exchange to
compete with other exchanges that open
their markets for entry of orders prior to
8 a.m.5
The Exchange will provide notice to
members in an information circular
when this proposed rule change will be
effective, which date will be no later
than January 1, 2012.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,6
in general, and with Sections 6(b)(1) and
6(b)(5) of the Act,7 in particular, in that
the proposal enables the Exchange to be
so organized as to have the capacity to
be able to carry out the purposes of the
Act and to comply with and enforce
compliance by members, member
organizations, and persons associated
with members and member
organizations with provisions of the
Act, the rules and regulations
thereunder, and the rules of the
Exchange. The proposal is also
consistent with Section 6 of the Act in
that the proposal is designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and 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. An
earlier opening time will enhance the
national market system by providing
market participants increased
opportunity to more effectively carry
out the execution of orders in the
manner addressed by Exchange rules.
Such improvements will enhance the
protection of investors and the public
interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
jlentini on DSK4TPTVN1PROD with NOTICES
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.
4 See
EDGA Rule 1.5(aa).
The NASDAQ Stock Market LLC Rule 4617
(opens at 7 a.m. EST). See also NASDAQ OMX BX
Rule 4617 (opens at 7 a.m. EST); NYSE Arca
Equities Rule 7.34 (opens at 1 a.m. Pacific Time).
6 15 U.S.C. 78f.
7 15 U.S.C. 78f(b)(1), (5).
5 See
VerDate Mar<15>2010
16:51 Aug 30, 2011
Jkt 223001
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 19(b)(3)(A)
of the Act 8 and Rule 19b–4(f)(6) 9
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.
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–EDGA–2011–28 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–2011–28. This file
8 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. EDGA has satisfied this requirement.
9 17
PO 00000
Frm 00079
Fmt 4703
Sfmt 4703
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–EDGA–
2011–28 and should be submitted on or
before September 21, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–22218 Filed 8–30–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65198; File No. SR–FICC–
2011–06]
Self-Regulatory Organizations; Fixed
Income Clearing Corporation; Notice of
Filing of Proposed Rule Change To
Eliminate Two Rules of the MortgageBacked Securities Division That FICC
Believes Are No Longer Utilized or
Necessary
August 25, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder 2
notice is hereby given that on August
17, 2011, the Fixed Income Clearing
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\31AUN1.SGM
31AUN1
]]>Agencies
[Federal Register Volume 76, Number 169 (Wednesday, August 31, 2011)]
[Notices]
[Pages 54267-54268]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-22218]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-65196; File No. SR-EDGA-2011-28]
Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
EDGA Rule 1.5(q)
August 25, 2011.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that, on August 19, 2011, EDGA Exchange, Inc. (the ``Exchange'' or
``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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
EDGA Exchange, Inc. (``EDGA'' or the ``Exchange''), proposes to
amend EDGA Rule 1.5(q) to change the starting time of the Pre-Opening
Session from 8 a.m. Eastern Time (``ET'') to 7 a.m. ET. The text of the
proposed rule change is attached as Exhibit 5 and is available on the
Exchange's Web site at www.directedge.com, at the Exchange's principal
office, 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 purpose of this filing is to amend EDGA Rule 1.5(q) to change
the starting time of the Pre-Opening Session from 8 a.m. ET to 7 a.m.
ET. A conforming amendment is also made to Rule 14.1(c)(2) to change
the reference for the start time of the Pre-Opening Session from 9
a.m.\3\ to 7 a.m.
---------------------------------------------------------------------------
\3\ The Exchange notes that this rule currently contains an
inaccurate reference to 9 a.m. as the beginning of the Pre-Opening
Session.
---------------------------------------------------------------------------
The Exchange is a fully electronic system that accommodates diverse
business models and trading preferences. The Exchange utilizes
technology to aggregate and display liquidity and make it available for
execution of orders. The Exchange is
[[Page 54268]]
proposing to expand its operational hours to open the System \4\
earlier so that firms can enter orders and execute beginning at 7 a.m.
rather than 8 a.m. This change will allow the Exchange to compete with
other exchanges that open their markets for entry of orders prior to 8
a.m.\5\
---------------------------------------------------------------------------
\4\ See EDGA Rule 1.5(aa).
\5\ See The NASDAQ Stock Market LLC Rule 4617 (opens at 7 a.m.
EST). See also NASDAQ OMX BX Rule 4617 (opens at 7 a.m. EST); NYSE
Arca Equities Rule 7.34 (opens at 1 a.m. Pacific Time).
---------------------------------------------------------------------------
The Exchange will provide notice to members in an information
circular when this proposed rule change will be effective, which date
will be no later than January 1, 2012.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\6\ in general, and with
Sections 6(b)(1) and 6(b)(5) of the Act,\7\ in particular, in that the
proposal enables the Exchange to be so organized as to have the
capacity to be able to carry out the purposes of the Act and to comply
with and enforce compliance by members, member organizations, and
persons associated with members and member organizations with
provisions of the Act, the rules and regulations thereunder, and the
rules of the Exchange. The proposal is also consistent with Section 6
of the Act in that the proposal is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in regulating, clearing, settling, processing
information with respect to, and 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. An earlier opening time will
enhance the national market system by providing market participants
increased opportunity to more effectively carry out the execution of
orders in the manner addressed by Exchange rules. Such improvements
will enhance the protection of investors and the public interest.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f.
\7\ 15 U.S.C. 78f(b)(1), (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 19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6)
\9\ thereunder.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 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.
EDGA has satisfied this requirement.
---------------------------------------------------------------------------
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-2011-28 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-2011-28. 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-EDGA-2011-28 and should be
submitted on or before September 21, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-22218 Filed 8-30-11; 8:45 am]
BILLING CODE 8011-01-P
