Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Expand the Availability of Risk Management Tools, 72902-72904 [2012-29455]
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Federal Register / Vol. 77, No. 235 / Thursday, December 6, 2012 / Notices
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
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.7 At any time
within 60 days of the filing of such
proposed rule change, the Commission
summarily may temporarily suspend
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act. If the Commission
takes such action, the Commission shall
institute proceedings to determine
whether the proposed rule should be
approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
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 20549–1090, on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such
filing also will be available for
inspection and copying at ISE’s
principal office and on its Internet Web
site. 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–ISE–2012–89, and should
be submitted on or before December 27,
2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–29451 Filed 12–5–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
mstockstill on DSK4VPTVN1PROD with
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–ISE–2012–89 on the subject
line.
[Release No. 34–68329; File No. SR–BYX–
2012–022]
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–ISE–2012–89. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
November 30, 2012.
7 15
U.S.C. 78s(b)(3)(A)(ii).
VerDate Mar<15>2010
16:42 Dec 05, 2012
Jkt 229001
Self-Regulatory Organizations; BATS
Y-Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Expand the
Availability of Risk Management Tools
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 November
19, 2012, BATS Y-Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BYX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
Frm 00090
Fmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange filed with the
Commission a proposal [sic] codify the
availability of a Risk Management Tool
(the ‘‘Tool’’) currently made available in
connection with sponsored access and
to expand the availability of the Tool to
all Exchange Members.3 The Tool is
currently available only to Members that
provide sponsored access to other
market participants, as described below.
The text of the proposed rule change
is available at the Exchange’s Web site
at https://www.batstrading.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange defines a ‘‘Sponsored
Participant’’ as a person who has
entered into a sponsorship arrangement
with a Sponsoring Member.4 A
‘‘Sponsoring Member’’ is defined as a
broker-dealer that is a Member of the
Exchange and has been designated by a
Sponsored Participant to execute, clear
and settle transactions occurring on the
Exchange.5 Under BYX Rule 11.3(b), a
Sponsoring Member may allow its
customers to enter orders directly into
the trading systems of the Exchange as
Sponsored Participants, without the
3 A Member is any registered broker or dealer that
has been admitted to membership in the Exchange.
4 See BYX Rule 1.5(w).
5 See BYX Rule 1.5(x).
8 17
PO 00000
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
Sfmt 4703
E:\FR\FM\06DEN1.SGM
06DEN1
Federal Register / Vol. 77, No. 235 / Thursday, December 6, 2012 / Notices
mstockstill on DSK4VPTVN1PROD with
Sponsoring Member acting as an
intermediary.
To facilitate the ability of a
Sponsoring Member to monitor and
oversee the sponsored access activity of
its Sponsored Participants, the
Exchange offers the Sponsored Access
Risk Management Tool.6 This optional
service acts as a risk filter by causing the
orders of Sponsored Participants to be
evaluated by the Tool prior to entering
the Exchange’s matching engine for
execution. When a Sponsored
Participant’s order is evaluated by the
Tool, it determines whether the order
complies with the order criteria
established by the Sponsoring Member
for that Sponsored Participant. The
order criteria pertain to such matters as
the size of the order (e.g., maximum
notional value per order and maximum
shares per order), the order type (e.g.,
pre-market, post-market, short sales and
ISOs), restricted securities, easy to
borrow securities, and order cut-off (e.g.,
block new orders and cancel all open
orders).
Given recent market events, the
Exchange proposes to expand the
availability of the Tool to all Members.
As amended, the Tool can be configured
by a Member to provide an Exchange
offered risk management solution. Just
as the use of the Tool by a Sponsoring
Member does not automatically
constitute compliance with Exchange
Rules, the Exchange does not believe
that use of the Tool can replace
Member-managed risk management
solutions. However, the Exchange does
believe that the Tool can be a valuable
addition to risk management solutions
implemented by Members.
As is currently the case, orders subject
to the Tool will be validated by the
Exchange prior to entering the
Exchange’s matching engine. Based on
parameters provided to the Tool, the
order will be immediately passed on to
the matching engine or rejected back to
the entering Member.
The Exchange does not propose to
require Members to use the Tool.
Members are free to use any appropriate
risk-management tool or service. The
Exchange will not provide preferential
treatment to Members using the Tool.
The Exchange proposes to make the
Tool available to its Members upon
request. The Exchange believes the Tool
6 The Exchange’s affiliate, BATS Exchange, Inc.,
filed a proposal to offer an identical service to its
members in connection with sponsored access. See
Securities Exchange Act Release No. 60236 (July 2,
2009), 74 FR 34068 (July 14, 2009) (SR–BATS–
2009–019) (notice of filing and immediate
effectiveness of proposed rule change to establish
a Sponsored Access Risk Management Tool) (the
‘‘BATS Exchange Risk Management Filing’’).
VerDate Mar<15>2010
16:42 Dec 05, 2012
Jkt 229001
will offer the Exchange’s Members
another option in the efficient risk
management of its Members’ access to
BYX.
2. Statutory Basis
The rule change proposed in this
submission 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(b) of the Act.7
Specifically, the proposed change is
consistent with Section 6(b)(5) of the
Act,8 because it would promote just and
equitable principles of trade, remove
impediments to, and perfect the
mechanism of, a free and open market
and a national market system, and, in
general, protect investors and the public
interest. The proposed rule change also
is designed to support the principles of
Section 11A(a)(1) 9 in that it seeks to
assure economically efficient execution
of securities transactions, make it
practicable for brokers to execute
investors’ orders in the best market, and
provide an opportunity for investors’
orders to be executed without the
participation of a dealer. Specifically,
the Exchange believes that the proposed
rule change is consistent with all of the
aforementioned principles because it
fosters competition by providing
another option in the efficient risk
management of trading on the Exchange.
The Exchange notes that a similar
functionality has already been found to
be consistent with the Act by the
Commission.10
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
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
7 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
9 15 U.S.C. 78k–1(a)(1).
10 Securities Exchange Act Release No. 59354
(February 3, 2009), 74 FR 6683 (February 10, 2009)
(SR–NYSE–2008–101) (Approval of NYSE Risk
Management Gateway).
8 15
PO 00000
Frm 00091
Fmt 4703
Sfmt 4703
72903
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 11 and Rule 19b–
4(f)(6)(iii) thereunder.12
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 email to rulecomments@sec.gov. Please include File
Number SR–BYX–2012–022 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.
All submissions should refer to File
Number SR–BYX–2012–022. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE.,
11 15
12 17
E:\FR\FM\06DEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
06DEN1
72904
Federal Register / Vol. 77, No. 235 / Thursday, December 6, 2012 / Notices
Washington, DC 20549, on official
business days between the hours of
10:00 a.m. and 3:00 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–BYX–
2012–022 and should be submitted on
or before December 27, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Huifeng
Bio-Pharmaceutical Technology, Inc.
because it has not filed any periodic
reports since the period ended
September 30, 2010.
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of the above-listed
companies.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the above-listed companies
is suspended for the period from 9:30
a.m. EST on December 4, 2012, through
11:59 p.m. EST on December 17, 2012.
By the Commission.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–29455 Filed 12–5–12; 8:45 am]
BILLING CODE 8011–01–P
[FR Doc. 2012–29596 Filed 12–4–12; 11:15 am]
SECURITIES AND EXCHANGE
COMMISSION
mstockstill on DSK4VPTVN1PROD with
December 4, 2012.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of
HealthSport, Inc. because it has not filed
any periodic reports since the period
ended September 30, 2010.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Home
Director, Inc. because it has not filed
any periodic reports since the period
ended September 30, 2007.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Home
Theater Products International, Inc.
because it has not filed any periodic
reports since March 31, 1995.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of House of
Taylor Jewelry, Inc. (n/k/a Global
Jewelry Concepts, Inc.) because it has
not filed any periodic since the period
ended September 30, 2007.
CFR 200.30–3(a)(12).
16:42 Dec 05, 2012
[FR Doc. 2012–29506 Filed 12–5–12; 8:45 am]
BILLING CODE 4710–08–P
TENNESSEE VALLEY AUTHORITY
December 10, 2012.
In the Matter of HealthSport, Inc.,
Home Director, Inc., Home Theater
Products International, Inc., House of
Taylor Jewelry, Inc. (n/k/a Global
Jewelry Concepts, Inc.), and Huifeng
Bio-Pharmaceutical Technology, Inc.;
Order of Suspension of Trading
VerDate Mar<15>2010
Dated: November 29, 2012.
Keith Loken,
Assistant Legal Adviser, Office of Private
International Law, Office of the Legal Adviser.
Notice of Sunshine Act Meeting
BILLING CODE 8011–01–P
[File No. 500–1]
13 17
Public Participation: This meeting is
open to the public. Dial-in information
and the draft legislation will be sent to
those individuals who advise the Office
of Private International Law that they
wish to participate in the
teleconference. Those who plan to
participate are requested to email or
phone Tricia Smeltzer
(smeltzertk@state.gov, 202–776–8423) or
Niesha Toms (tomsnn@state.gov, 202–
776–8420) before December 28 and
provide your name, affiliation, and
email address.
Jkt 229001
Meeting No. 12–05
DEPARTMENT OF STATE
[Public Notice 8106]
U.S. Department of State Advisory
Committee on Private International
Law (ACPIL): Notice of Public Meeting
of the Study Group on the Hague
Convention on Choice of Court
Agreements
The Office of the Assistant Legal
Adviser for Private International Law,
Department of State, hereby gives notice
of a public meeting, to be conducted
exclusively by teleconference, of the
Study Group on the Hague Convention
on Choice of Court Agreements. The
Study Group will convene by
conference call to discuss a new version
of draft federal implementing legislation
that will be circulated to participants
prior to the meeting. The new version
differs from earlier draft texts in two key
respects: (1) The new version adopts a
shorter form; and (2) the new version
does not contemplate parallel federal
and state implementing legislation. The
new version has been prepared for
consideration as a potential alternative
to the earlier texts. Those earlier texts
remain under consideration but to date
have not achieved sufficient support.
The purpose of the public meeting is to
obtain comments on the new version.
This is not a meeting of the full
Advisory Committee.
Time: The teleconference will take
place on Friday, January 4, 2013 at 1:00
p.m. EST and is tentatively scheduled to
last until 4:00 p.m. EST.
PO 00000
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The TVA Board of Directors will hold
a specially called public meeting on
December 10, 2012, in the TVA West
Tower Auditorium, 400 West Summit
Hill Drive, Knoxville, Tennessee, to
consider the agenda items listed below.
A number of the TVA Board of Directors
will join the meeting by teleconference.
The meeting will begin at 9:30 a.m. (ET).
No public listening session is
scheduled.
STATUS: Open.
Agenda
Chairman’s Welcome.
New Business
1. Arrangements for Non-Quorum
Board of Directors.
2. Application of Real Time Energy
Rate for a Specific Economic
Development Customer.
FOR MORE INFORMATION: Please call TVA
Media Relations at (865) 632–6000,
Knoxville, Tennessee. People who plan
to attend the meeting and have special
needs should call (865) 632–6000.
Anyone who wishes to comment on any
of the agenda in writing may send their
comments to: TVA Board of Directors,
Board Agenda Comments, 400 West
Summit Hill Drive, Knoxville,
Tennessee 37902.
Dated: December 3, 2012.
Ralph E. Rodgers,
General Counsel and Secretary.
[FR Doc. 2012–29586 Filed 12–4–12; 11:15 am]
BILLING CODE 8120–08–P
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06DEN1
]]>Agencies
[Federal Register Volume 77, Number 235 (Thursday, December 6, 2012)]
[Notices]
[Pages 72902-72904]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-29455]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-68329; File No. SR-BYX-2012-022]
Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Expand
the Availability of Risk Management Tools
November 30, 2012.
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 November 19, 2012, BATS Y-Exchange, Inc. (the ``Exchange'' or
``BYX'') 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. 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 the
Substance of the Proposed Rule Change
The Exchange filed with the Commission a proposal [sic] codify the
availability of a Risk Management Tool (the ``Tool'') currently made
available in connection with sponsored access and to expand the
availability of the Tool to all Exchange Members.\3\ The Tool is
currently available only to Members that provide sponsored access to
other market participants, as described below.
---------------------------------------------------------------------------
\3\ 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, 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 defines a ``Sponsored Participant'' as a person who
has entered into a sponsorship arrangement with a Sponsoring Member.\4\
A ``Sponsoring Member'' is defined as a broker-dealer that is a Member
of the Exchange and has been designated by a Sponsored Participant to
execute, clear and settle transactions occurring on the Exchange.\5\
Under BYX Rule 11.3(b), a Sponsoring Member may allow its customers to
enter orders directly into the trading systems of the Exchange as
Sponsored Participants, without the
[[Page 72903]]
Sponsoring Member acting as an intermediary.
---------------------------------------------------------------------------
\4\ See BYX Rule 1.5(w).
\5\ See BYX Rule 1.5(x).
---------------------------------------------------------------------------
To facilitate the ability of a Sponsoring Member to monitor and
oversee the sponsored access activity of its Sponsored Participants,
the Exchange offers the Sponsored Access Risk Management Tool.\6\ This
optional service acts as a risk filter by causing the orders of
Sponsored Participants to be evaluated by the Tool prior to entering
the Exchange's matching engine for execution. When a Sponsored
Participant's order is evaluated by the Tool, it determines whether the
order complies with the order criteria established by the Sponsoring
Member for that Sponsored Participant. The order criteria pertain to
such matters as the size of the order (e.g., maximum notional value per
order and maximum shares per order), the order type (e.g., pre-market,
post-market, short sales and ISOs), restricted securities, easy to
borrow securities, and order cut-off (e.g., block new orders and cancel
all open orders).
---------------------------------------------------------------------------
\6\ The Exchange's affiliate, BATS Exchange, Inc., filed a
proposal to offer an identical service to its members in connection
with sponsored access. See Securities Exchange Act Release No. 60236
(July 2, 2009), 74 FR 34068 (July 14, 2009) (SR-BATS-2009-019)
(notice of filing and immediate effectiveness of proposed rule
change to establish a Sponsored Access Risk Management Tool) (the
``BATS Exchange Risk Management Filing'').
---------------------------------------------------------------------------
Given recent market events, the Exchange proposes to expand the
availability of the Tool to all Members. As amended, the Tool can be
configured by a Member to provide an Exchange offered risk management
solution. Just as the use of the Tool by a Sponsoring Member does not
automatically constitute compliance with Exchange Rules, the Exchange
does not believe that use of the Tool can replace Member-managed risk
management solutions. However, the Exchange does believe that the Tool
can be a valuable addition to risk management solutions implemented by
Members.
As is currently the case, orders subject to the Tool will be
validated by the Exchange prior to entering the Exchange's matching
engine. Based on parameters provided to the Tool, the order will be
immediately passed on to the matching engine or rejected back to the
entering Member.
The Exchange does not propose to require Members to use the Tool.
Members are free to use any appropriate risk-management tool or
service. The Exchange will not provide preferential treatment to
Members using the Tool.
The Exchange proposes to make the Tool available to its Members
upon request. The Exchange believes the Tool will offer the Exchange's
Members another option in the efficient risk management of its Members'
access to BYX.
2. Statutory Basis
The rule change proposed in this submission 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(b) of the Act.\7\ Specifically, the
proposed change is consistent with Section 6(b)(5) of the Act,\8\
because it would promote just and equitable principles of trade, remove
impediments to, and perfect the mechanism of, a free and open market
and a national market system, and, in general, protect investors and
the public interest. The proposed rule change also is designed to
support the principles of Section 11A(a)(1) \9\ in that it seeks to
assure economically efficient execution of securities transactions,
make it practicable for brokers to execute investors' orders in the
best market, and provide an opportunity for investors' orders to be
executed without the participation of a dealer. Specifically, the
Exchange believes that the proposed rule change is consistent with all
of the aforementioned principles because it fosters competition by
providing another option in the efficient risk management of trading on
the Exchange. The Exchange notes that a similar functionality has
already been found to be consistent with the Act by the Commission.\10\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
\9\ 15 U.S.C. 78k-1(a)(1).
\10\ Securities Exchange Act Release No. 59354 (February 3,
2009), 74 FR 6683 (February 10, 2009) (SR-NYSE-2008-101) (Approval
of NYSE Risk Management Gateway).
---------------------------------------------------------------------------
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
The Exchange has neither solicited nor received written comments on
the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6)(iii) thereunder.\12\
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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 email to rule-comments@sec.gov. Please include
File Number SR-BYX-2012-022 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.
All submissions should refer to File Number SR-BYX-2012-022. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
[[Page 72904]]
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 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-BYX-2012-022 and should be
submitted on or before December 27, 2012.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-29455 Filed 12-5-12; 8:45 am]
BILLING CODE 8011-01-P
