Self-Regulatory Organization; BATS Y-Exchange, Inc.; Order Granting an Extension to Limited Exemption From Rule 612(c) of Regulation NMS in Connection With the Exchange's Retail Price Improvement Program, 2234 [2014-00341]

Download as PDF 2234 Federal Register / Vol. 79, No. 8 / Monday, January 13, 2014 / Notices All submissions should refer to File Number SR–NYSE–2013–84. 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., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the 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–NYSE– 2013–84 and should be submitted on or before February 3, 2014. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.38 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–00345 Filed 1–10–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–71250; File No. SR–BYX– 2012–019] Self-Regulatory Organization; BATS YExchange, Inc.; Order Granting an Extension to Limited Exemption From Rule 612(c) of Regulation NMS in Connection With the Exchange’s Retail Price Improvement Program tkelley on DSK3SPTVN1PROD with NOTICES On November 27, 2012, the Securities and Exchange Commission (‘‘Commission’’) issued an order pursuant to its authority under Rule 612(c) of Regulation NMS (‘‘Sub-Penny CFR 200.30–3(a)(12). VerDate Mar<15>2010 16:40 Jan 10, 2014 1 17 CFR 242.612(c). Securities Exchange Act Release No. 68303 (November 27, 2012), 77 FR 71652 (December 3, 2012) (‘‘RPI Approval Order’’) (SR–BXY–2012–019). 3 See letter from Eric Swanson, Senior Vice President and General Counsel, BYX, to Elizabeth M. Murphy, Secretary, Commission, dated January 3, 2014. 4 See SR–BYX–2014–001. 5 See RPI Approval Order, supra note 2, at 77 FR at 71657. 2 See January 7, 2014. 38 17 Rule) 1 that granted the BATS YExchange, Inc. (‘‘BYX’’ or the ‘‘Exchange’’) a limited exemption from the Sub-Penny Rule in connection with the operation of the Exchange’s Retail Price Improvement (‘‘RPI’’) Program (the ‘‘Program’’). The limited exemption was granted concurrently with the Commission’s approval of the Exchange’s proposal to adopt the Program for a one-year pilot term.2 The exemption was granted coterminous with the effectiveness of the pilot Program, which is scheduled to expire on January 11, 2014. The Exchange now seeks to extend to exemption until January 31, 2015.3 The Exchange’s request was made in conjunction with an immediately effective filing that extends the operation of the Program until January 31, 2015.4 In its request to extend the exemption, the Exchange notes that the Program was implemented gradually over time. Accordingly, the Exchange has asked for additional time to allow itself and the Commission to analyze data concerning the Program, which the Exchange committed to provide to the Commission.5 For this reason and the reasons stated in the Order originally granting the limited exemption, the Commission finds that extending the exemption, pursuant to its authority under Rule 612(c) of Regulation NMS, is appropriate in the public interest and consistent with the protection of investors. Therefore, it is hereby ordered, that, pursuant to Rule 612(c) of Regulation NMS, the Exchange is granted a limited exemption from Rule 612(c) of Regulation NMS that allows it to accept and rank orders priced equal to or greater than $1.00 per share in increments of $0.001, in connection with the operation of its RPI Program. The limited and temporary exemption extended by this Order is subject to modification or revocation if at any time the Commission determines that such action is necessary or appropriate in furtherance of the purposes of the Exchange Act. Responsibility for compliance with any applicable provisions of the federal securities laws must rest with the persons relying on Jkt 232001 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 the exemptions that are the subject of this Order. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Kevin M O’Neill, Deputy Secretary. [FR Doc. 2014–00341 Filed 1–10–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–71245; File No. SR– NYSEMKT–2013–107] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 123C(7)(b)—Equities To Provide That G Orders With a Price Equal to the Closing Price Are the Last Interest Eligible To Be Used to Offset A Closing Imbalance January 7, 2014. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on December 26, 2013, NYSE MKT LLC (the ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with the Securities and Exchange Commission (the ‘‘SEC’’ or ‘‘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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 123C(7)(b)—Equities to provide that G orders with a price equal to the closing price are the last interest eligible to be used to offset a closing imbalance. The text of the proposed rule change is available on the Exchange’s Web site at www.nyse.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 self-regulatory organization included statements concerning the purpose of, 6 17 CFR 200.30–3(a)(83). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 1 15 E:\FR\FM\13JAN1.SGM 13JAN1

Agencies

[Federal Register Volume 79, Number 8 (Monday, January 13, 2014)]
[Notices]
[Page 2234]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00341]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-71250; File No. SR-BYX-2012-019]


Self-Regulatory Organization; BATS Y-Exchange, Inc.; Order 
Granting an Extension to Limited Exemption From Rule 612(c) of 
Regulation NMS in Connection With the Exchange's Retail Price 
Improvement Program

January 7, 2014.
    On November 27, 2012, the Securities and Exchange Commission 
(``Commission'') issued an order pursuant to its authority under Rule 
612(c) of Regulation NMS (``Sub-Penny Rule) \1\ that granted the BATS 
Y-Exchange, Inc. (``BYX'' or the ``Exchange'') a limited exemption from 
the Sub-Penny Rule in connection with the operation of the Exchange's 
Retail Price Improvement (``RPI'') Program (the ``Program''). The 
limited exemption was granted concurrently with the Commission's 
approval of the Exchange's proposal to adopt the Program for a one-year 
pilot term.\2\ The exemption was granted coterminous with the 
effectiveness of the pilot Program, which is scheduled to expire on 
January 11, 2014.
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    \1\ 17 CFR 242.612(c).
    \2\ See Securities Exchange Act Release No. 68303 (November 27, 
2012), 77 FR 71652 (December 3, 2012) (``RPI Approval Order'') (SR-
BXY-2012-019).
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    The Exchange now seeks to extend to exemption until January 31, 
2015.\3\ The Exchange's request was made in conjunction with an 
immediately effective filing that extends the operation of the Program 
until January 31, 2015.\4\ In its request to extend the exemption, the 
Exchange notes that the Program was implemented gradually over time. 
Accordingly, the Exchange has asked for additional time to allow itself 
and the Commission to analyze data concerning the Program, which the 
Exchange committed to provide to the Commission.\5\ For this reason and 
the reasons stated in the Order originally granting the limited 
exemption, the Commission finds that extending the exemption, pursuant 
to its authority under Rule 612(c) of Regulation NMS, is appropriate in 
the public interest and consistent with the protection of investors.
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    \3\ See letter from Eric Swanson, Senior Vice President and 
General Counsel, BYX, to Elizabeth M. Murphy, Secretary, Commission, 
dated January 3, 2014.
    \4\ See SR-BYX-2014-001.
    \5\ See RPI Approval Order, supra note 2, at 77 FR at 71657.
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    Therefore, it is hereby ordered, that, pursuant to Rule 612(c) of 
Regulation NMS, the Exchange is granted a limited exemption from Rule 
612(c) of Regulation NMS that allows it to accept and rank orders 
priced equal to or greater than $1.00 per share in increments of 
$0.001, in connection with the operation of its RPI Program.
    The limited and temporary exemption extended by this Order is 
subject to modification or revocation if at any time the Commission 
determines that such action is necessary or appropriate in furtherance 
of the purposes of the Exchange Act. Responsibility for compliance with 
any applicable provisions of the federal securities laws must rest with 
the persons relying on the exemptions that are the subject of this 
Order.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(83).
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Kevin M O'Neill,
Deputy Secretary.
[FR Doc. 2014-00341 Filed 1-10-14; 8:45 am]
BILLING CODE 8011-01-P
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