Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Modify the Opening Process, 33001 [2015-14131]

Download as PDF Federal Register / Vol. 80, No. 111 / Wednesday, June 10, 2015 / Notices submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–C2– 2015–014 and should be submitted on or before July 1, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.23 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–14133 Filed 6–9–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–75104; File No. SR–ISE– 2014–24] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Modify the Opening Process asabaliauskas on DSK5VPTVN1PROD with NOTICES June 4, 2015. On November 19, 2014, International Securities Exchange, LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to modify the manner in which the Exchange’s trading system opens trading at the beginning of the day and after trading halts and to codify certain existing functionality within the trading system regarding opening and reopening of options classes traded on the Exchange. The proposed rule change was published for comment in the Federal Register on December 10, 2014.3 On January 23, 2015, the Commission extended the time period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change, to March 10, 2015.4 On March 10, 2015, the Commission instituted proceedings under section 19(b)(2)(B) of the Act 5 to determine whether to approve or 23 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 73736 (December 4, 2014), 79 FR 73354. 4 See Securities Exchange Act Release No. 74126 (January 23, 2015), 80 FR 4953 (January 29, 2015). 5 15 U.S.C. 78s(b)(2)(B). VerDate Sep<11>2014 16:46 Jun 09, 2015 Jkt 235001 disapprove the proposed rule change.6 On May 13, 2015, the Commission received a letter from the Exchange responding to the Order Instituting Proceedings.7 The Commission received one other comment letter on the proposed rule change.8 Section 19(b)(2) of the Act provides that proceedings to determine whether to disapprove a proposed rule change must be concluded within 180 days of the date of publication of notice of the filing of the proposed rule change.9 The time for conclusion of the proceedings may be extended for up to 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination.10 The 180th day for this filing is June 8, 2015. The Commission is extending the time period for Commission action on the proposed rule change. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the comment letters and take action on the Exchange’s proposed rule change. Accordingly, pursuant to section 19(b)(2)(B)(ii)(II) of the Act 11 and for the reasons stated above, the Commission designates August 7, 2015, as the date by which the Commission should either approve or disapprove the proposed rule change(File No. SR–ISE–2014–24). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–14131 Filed 6–9–15; 8:45 am] BILLING CODE 8011–01–P 6 See Securities Exchange Act Release No. 74465 (March 10, 2015), 80 FR 13660 (March 16, 2015) (‘‘Order Instituting Proceedings’’). 7 See Letter to Brent J. Fields, Secretary, Commission, from Mike Simon, Secretary and General Counsel, dated May 13, 2015 (‘‘ISE Letter’’). 8 See Letter to Brent J. Fields, Secretary, Commission, from Benjamin Londergan, Head of Options Trading and Technology, Convergex Execution Solutions LLC, dated June 1, 2015. 9 15 U.S.C. 78s(b)(2)(B)(ii)(I). 10 15 U.S.C. 78s(b)(2)(B)(ii)(II). 11 15 U.S.C. 78s(b)(2)(B)(ii)(II). 12 17 CFR 200.30–3(a)(57). PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 33001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–75107; File No. SR–BATS– 2015–40] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Rule 13.8 Describing a Communication and Routing Service Known as BATS Connect June 4, 2015. 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 May 27, 2015, BATS Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BATS’’) 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 Exchange. The Exchange has designated this proposal as a ‘‘noncontroversial’’ proposed rule change pursuant to section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6)(iii) thereunder,4 which renders it effective upon filing with the Commission. 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 is proposing to adopt Rule 13.8 to describe a communication and routing service known as BATS Connect. The proposed rule change is based on an identical service offered by the Exchange’s affiliate, EDGX Exchange, Inc. (‘‘EDGX’’).5 The text of the proposed rule change is available at the Exchange’s Web site at 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 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6)(iii). 5 See EDGX Rule 13.9. See also Securities Exchange Act Release Nos. 73780 (December 8, 2014), 79 FR 73942 (December 12, 2014) (SR– EDGX–2014–28); and 74935 (May 12, 2015), 80 FR 28335 (May 18, 2015) (SR–EDGX–2015–19). 2 17 E:\FR\FM\10JNN1.SGM 10JNN1

Agencies

[Federal Register Volume 80, Number 111 (Wednesday, June 10, 2015)]
[Notices]
[Page 33001]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-14131]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75104; File No. SR-ISE-2014-24]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Modify the Opening Process

June 4, 2015.
    On November 19, 2014, International Securities Exchange, LLC 
(``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to modify the manner in which the Exchange's 
trading system opens trading at the beginning of the day and after 
trading halts and to codify certain existing functionality within the 
trading system regarding opening and reopening of options classes 
traded on the Exchange. The proposed rule change was published for 
comment in the Federal Register on December 10, 2014.\3\ On January 23, 
2015, the Commission extended the time period within which to approve 
the proposed rule change, disapprove the proposed rule change, or 
institute proceedings to determine whether to disapprove the proposed 
rule change, to March 10, 2015.\4\ On March 10, 2015, the Commission 
instituted proceedings under section 19(b)(2)(B) of the Act \5\ to 
determine whether to approve or disapprove the proposed rule change.\6\ 
On May 13, 2015, the Commission received a letter from the Exchange 
responding to the Order Instituting Proceedings.\7\ The Commission 
received one other comment letter on the proposed rule change.\8\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 73736 (December 4, 
2014), 79 FR 73354.
    \4\ See Securities Exchange Act Release No. 74126 (January 23, 
2015), 80 FR 4953 (January 29, 2015).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 74465 (March 10, 
2015), 80 FR 13660 (March 16, 2015) (``Order Instituting 
Proceedings'').
    \7\ See Letter to Brent J. Fields, Secretary, Commission, from 
Mike Simon, Secretary and General Counsel, dated May 13, 2015 (``ISE 
Letter'').
    \8\ See Letter to Brent J. Fields, Secretary, Commission, from 
Benjamin Londergan, Head of Options Trading and Technology, 
Convergex Execution Solutions LLC, dated June 1, 2015.
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    Section 19(b)(2) of the Act provides that proceedings to determine 
whether to disapprove a proposed rule change must be concluded within 
180 days of the date of publication of notice of the filing of the 
proposed rule change.\9\ The time for conclusion of the proceedings may 
be extended for up to 60 days if the Commission determines that a 
longer period is appropriate and publishes the reasons for such 
determination.\10\ The 180th day for this filing is June 8, 2015.
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    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \10\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
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    The Commission is extending the time period for Commission action 
on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider the 
comment letters and take action on the Exchange's proposed rule change.
    Accordingly, pursuant to section 19(b)(2)(B)(ii)(II) of the Act 
\11\ and for the reasons stated above, the Commission designates August 
7, 2015, as the date by which the Commission should either approve or 
disapprove the proposed rule change (File No. SR-ISE-2014-24).
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    \11\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
    \12\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-14131 Filed 6-9-15; 8:45 am]
 BILLING CODE 8011-01-P
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