Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc., 51340-51342 [2015-20790]

Download as PDF 51340 Federal Register / Vol. 80, No. 163 / Monday, August 24, 2015 / Notices SROs where CROs authorize issuance of complaints and approve settlements. Finally, making technical amendments and correcting a typographical error in Rules 476, 8120, 9001, 9110, 9217, 9232, 9310 and 9810 removes impediments to and perfects the mechanism of a free and open market by removing confusion that may result from having incorrect or redundant material in the Exchange’s rulebook. The Exchange believes that eliminating incorrect or redundant material would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from increased transparency, thereby reducing potential confusion. Removing such references will also remove impediments to and perfects the mechanism of a free and open market by ensuring that persons subject to the Exchange’s jurisdiction, regulators, and the investing public can more easily navigate and understand the Exchange’s rulebook. The Exchange believes that eliminating incorrect or redundant material would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from increased transparency, thereby reducing potential confusion. Removing such references will also further the goal of transparency and add clarity to the Exchange’s rules. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange 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. The proposed rule change is not intended to address competitive issues but rather to enable the Exchange to directly investigate and initiate disciplinary actions following and facilitate the reintegration of certain regulatory functions from FINRA. tkelley on DSK3SPTVN1PROD with NOTICES C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period VerDate Sep<11>2014 16:48 Aug 21, 2015 Jkt 235001 to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) by order approve or disapprove such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be 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: 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– NYSE–2015–35 on the subject line. Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSE–2015–35. 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 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–NYSE– PO 00000 Frm 00145 Fmt 4703 Sfmt 4703 2015–35, and should be submitted on or before September 14, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.27 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–20792 Filed 8–21–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–75723; File No. SR–BATS– 2015–60] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc. August 18, 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 August 7, 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, II and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under section 19(b)(3)(A)(ii) of the Act 3 and Rule 19b–4(f)(2) thereunder,4 which renders the proposed rule change 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 filed a proposal to amend the fee schedule applicable to Members 5 and non-members of the Exchange pursuant to BATS Rules 15.1(a) and (c) (‘‘Fee Schedule’’) to remove fees for BATS Investor Pro and BATS Investor RT, as the Exchange will no longer make these products available as of August 29, 2015. The text of the proposed rule change is available at the Exchange’s Web site 27 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 5 The term ‘‘Member’’ is defined as ‘‘any registered broker or dealer that has been admitted to membership in the Exchange.’’ See Exchange Rule 1.5(n). 1 15 E:\FR\FM\24AUN1.SGM 24AUN1 Federal Register / Vol. 80, No. 163 / Monday, August 24, 2015 / Notices 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 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 tkelley on DSK3SPTVN1PROD with NOTICES 1. Purpose The Exchange proposes to remove fees for BATS Investor Pro and BATS Investor RT, as the Exchange will no longer make these products available as of August 29, 2015. The Exchange currently maintains a revenue sharing program with Interactive Data Corporation, acting by and through its division, Interactive Data Desktop Solutions, and its subsidiary, Interactive Data Online Properties, Inc. (collectively ‘‘IDC’’), whereby the Exchange has agreed to make available, through IDC, private labeled versions of IDC’s Market–Q and LiveCharts products (the ‘‘Revenue Sharing Program’’).6 Pursuant to an agreement (the ‘‘Agreement’’) between IDC and the Exchange, Market– Q has been marketed by the Exchange under the private label name ‘‘BATS Investor Pro’’ and LiveCharts has been marketed by the Exchange under the private label name ‘‘BATS Investor RT’’ (BATS Investor Pro and BATS Investor RT, collectively, the ‘‘Private Labeled Products’’). Under the Agreement, the current price schedule charges subscribers a monthly fee of $125.00 for BATS Investor Pro and a monthly fee of $24.95 for BATS Investor RT.7 6 See Securities Exchange Act Release Nos. 70264 (August 27, 2013), 78 FR 54338 (September 3, 2013) (SR–BATS–2013–045); and 70687 (October 15, 2013), 78 FR 62921 (October 22, 2013) (SR–BATS– 2013–055). 7 Under the Agreement, IDC determines the price schedule for the Private Labeled Products, and has the right to change the price schedule at any time in its sole discretion upon prior notice to BATS; provided, however, that such changes to the price schedule do not become effective unless and until the applicable fees set forth in the price schedule have been filed with and/or approved by the VerDate Sep<11>2014 16:48 Aug 21, 2015 Jkt 235001 Pursuant to and in accordance with the terms and conditions of the Agreement, on July 24, 2015, the Exchange provided written notice of termination of the Agreement to IDC, effective as of August 29, 2015. Therefore, inclusion of the Private Labeled Products within Exchange’s Fee Schedule would no longer serve any legitimate purpose upon the Revenue Sharing Program being terminated by the Exchange. The Exchange is terminating the Revenue Share Program with IDC due to lack of interest from data recipients for the Private Labeled Products. Currently, there are no active clients for either Private Labeled Product. Implementation Date The Exchange proposes to implement these amendments to its Fee Schedule on August 31, 2015. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of section 6 of the Act,8 in general, and furthers the objectives of section 6(b)(4),9 in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities because it would delete fees for products that are to be discontinued by the Exchange, thereby eliminating investor confusion. In addition, the Exchange has no subscribers to either of the Private Labeled Products, neither of the Private Labeled Products is a core product offering by the Exchange, and the Exchange is not required by the Act to offer such products. The proposed rule change will not permit unfair discrimination among customers, brokers, or dealers because the Private Labeled Products will no longer be offered by the Exchange. Lastly, the Exchange also believes that the proposed amendment to its Fee Schedule is reasonable and nondiscriminatory because it will apply uniformly to all members. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe its proposed amendments to its Fee Schedule would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change will terminate the Revenue Commission through a proposed rule change submitted by the Exchange in accordance with the Act. 8 15 U.S.C. 78f. 9 15 U.S.C. 78f(b)(4). PO 00000 Frm 00146 Fmt 4703 Sfmt 4703 51341 Sharing Program with IDC, as well as the fees for the products offered thereunder from its fee schedule, effective as of August 29, 2015, and is not designed to have a competitive impact. Therefore, the Exchange does not believe the proposed rule change will have any effect on competition. 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) of the Act 10 and paragraph (f) of Rule 19b–4 thereunder.11 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– BATS–2015–60 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–BATS–2015–60. 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 10 15 11 17 E:\FR\FM\24AUN1.SGM U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f). 24AUN1 51342 Federal Register / Vol. 80, No. 163 / Monday, August 24, 2015 / Notices 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–BATS– 2015–60, and should be submitted on or before September 14, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–20790 Filed 8–21–15; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–75722; File No. SR– NYSEARCA–2015–70] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Equities Schedule of Fees and Charges for Exchange Services To Modify the Credits the Exchange Provides for Routing Certain Orders to the New York Stock Exchange LLC tkelley on DSK3SPTVN1PROD with NOTICES August 18, 2015. 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 August 3, 2015, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the CFR 200.30–3(a)(12). 1 15 U.S.C.78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. VerDate Sep<11>2014 16:48 Aug 21, 2015 Jkt 235001 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE Arca Equities Schedule of Fees and Charges for Exchange Services (‘‘Fee Schedule’’) to modify the credits the Exchange provides for routing certain orders to the New York Stock Exchange LLC (‘‘NYSE’’). 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, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those 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 the Statutory Basis for, the Proposed Rule Change SECURITIES AND EXCHANGE COMMISSION 12 17 proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1. Purpose The Exchange proposes to amend the Fee Schedule to modify the Tier 1 and Tier 2 credits the Exchange provides for routing PO+ Orders 4 to the NYSE and make corresponding changes in the Basic Rate pricing. A PO+ Order is designed to route to the primary listing market of the security underlying the order (i.e., NYSE, NASDAQ, etc.) immediately upon arrival and the order therefore does not rest on the Exchange’s order book. Because PO+ Orders do not rest on the Exchange’s book, the Exchange charges fees or provides credits for those orders based on the fees or credits of the destination primary listing market, 4 A PO+ Order is a Primary Only Order (i.e., a market or limit order that is to be routed to the primary market) that is entered for participation in the primary market, other than for participation in the primary market opening or primary market reopening. See NYSE Arca Equities Rule 7.31(f)(1)(C). PO 00000 Frm 00147 Fmt 4703 Sfmt 4703 which are the fees and credits that the Exchange is charged by the primary listing market that receives the order. In a recent rule filing, the NYSE modified its fee structure for equities transaction by decreasing the level of rebate that it provides to its members that provide liquidity from $0.0015 per share to $0.0014 per share.5 In order to maintain the same relationship between the rate that the Exchange charges for a PO+ Order and the rebate provided by the destination venue, the Exchange is also amending the per share credit for PO+ Orders routed to the NYSE that provide liquidity to the NYSE to $0.0014 per share. The Exchange proposes corresponding changes to the Basic Rate pricing section of the Fee Schedule. The proposed changes are not otherwise intended to address any other issues, and the Exchange is not aware of any problems that ETP Holders would have in complying with the proposed changes. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act,6 in general, and furthers the objectives of sections 6(b)(4) and (5) of the Act,7 in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. The Exchange believes that the proposed changes to routing credits for PO+ Orders that provide liquidity to the NYSE are reasonable because the Exchange’s credits for routing an order that does not rest on the Exchange’s order book, but rather is designed to route to the primary listing market on arrival, are closely related to the NYSE’s rebates for its members for providing liquidity, and the proposed change is consistent with the recent change to the NYSE Price List to lower its rebate for providing liquidity. While the proposed change would result in a decrease in the per share credit for PO+ Orders routed to the NYSE that provide liquidity to the NYSE, the rebate that the Exchange would provide to ETP Holders is competitive with the rate that NYSE provides to its members for providing liquidity and would maintain the same relationship between the rebate provide 5 See Securities Exchange Act Release No. 75353 (July 2, 2015), 80 FR 39468 (July 9, 2015) (SR– NYSE–2015–30). 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(4) and (5). E:\FR\FM\24AUN1.SGM 24AUN1

Agencies

[Federal Register Volume 80, Number 163 (Monday, August 24, 2015)]
[Notices]
[Pages 51340-51342]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-20790]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75723; File No. SR-BATS-2015-60]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change Related to 
Fees for Use of BATS Exchange, Inc.

August 18, 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 August 7, 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, II 
and III below, which Items have been prepared by the Exchange. The 
Exchange has designated the proposed rule change as one establishing or 
changing a member due, fee, or other charge imposed by the Exchange 
under section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) 
thereunder,\4\ which renders the proposed rule change effective upon 
filing with the Commission. 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange filed a proposal to amend the fee schedule applicable 
to Members \5\ and non-members of the Exchange pursuant to BATS Rules 
15.1(a) and (c) (``Fee Schedule'') to remove fees for BATS Investor Pro 
and BATS Investor RT, as the Exchange will no longer make these 
products available as of August 29, 2015.
---------------------------------------------------------------------------

    \5\ The term ``Member'' is defined as ``any registered broker or 
dealer that has been admitted to membership in the Exchange.'' See 
Exchange Rule 1.5(n).
---------------------------------------------------------------------------

    The text of the proposed rule change is available at the Exchange's 
Web site

[[Page 51341]]

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 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 proposes to remove fees for BATS Investor Pro and BATS 
Investor RT, as the Exchange will no longer make these products 
available as of August 29, 2015. The Exchange currently maintains a 
revenue sharing program with Interactive Data Corporation, acting by 
and through its division, Interactive Data Desktop Solutions, and its 
subsidiary, Interactive Data Online Properties, Inc. (collectively 
``IDC''), whereby the Exchange has agreed to make available, through 
IDC, private labeled versions of IDC's Market-Q and LiveCharts products 
(the ``Revenue Sharing Program'').\6\ Pursuant to an agreement (the 
``Agreement'') between IDC and the Exchange, Market-Q has been marketed 
by the Exchange under the private label name ``BATS Investor Pro'' and 
LiveCharts has been marketed by the Exchange under the private label 
name ``BATS Investor RT'' (BATS Investor Pro and BATS Investor RT, 
collectively, the ``Private Labeled Products''). Under the Agreement, 
the current price schedule charges subscribers a monthly fee of $125.00 
for BATS Investor Pro and a monthly fee of $24.95 for BATS Investor 
RT.\7\
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release Nos. 70264 (August 27, 
2013), 78 FR 54338 (September 3, 2013) (SR-BATS-2013-045); and 70687 
(October 15, 2013), 78 FR 62921 (October 22, 2013) (SR-BATS-2013-
055).
    \7\ Under the Agreement, IDC determines the price schedule for 
the Private Labeled Products, and has the right to change the price 
schedule at any time in its sole discretion upon prior notice to 
BATS; provided, however, that such changes to the price schedule do 
not become effective unless and until the applicable fees set forth 
in the price schedule have been filed with and/or approved by the 
Commission through a proposed rule change submitted by the Exchange 
in accordance with the Act.
---------------------------------------------------------------------------

    Pursuant to and in accordance with the terms and conditions of the 
Agreement, on July 24, 2015, the Exchange provided written notice of 
termination of the Agreement to IDC, effective as of August 29, 2015. 
Therefore, inclusion of the Private Labeled Products within Exchange's 
Fee Schedule would no longer serve any legitimate purpose upon the 
Revenue Sharing Program being terminated by the Exchange. The Exchange 
is terminating the Revenue Share Program with IDC due to lack of 
interest from data recipients for the Private Labeled Products. 
Currently, there are no active clients for either Private Labeled 
Product.
Implementation Date
    The Exchange proposes to implement these amendments to its Fee 
Schedule on August 31, 2015.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the objectives of section 6 of the Act,\8\ in general, and 
furthers the objectives of section 6(b)(4),\9\ in particular, as it is 
designed to provide for the equitable allocation of reasonable dues, 
fees and other charges among its Members and other persons using its 
facilities because it would delete fees for products that are to be 
discontinued by the Exchange, thereby eliminating investor confusion. 
In addition, the Exchange has no subscribers to either of the Private 
Labeled Products, neither of the Private Labeled Products is a core 
product offering by the Exchange, and the Exchange is not required by 
the Act to offer such products. The proposed rule change will not 
permit unfair discrimination among customers, brokers, or dealers 
because the Private Labeled Products will no longer be offered by the 
Exchange.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f.
    \9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    Lastly, the Exchange also believes that the proposed amendment to 
its Fee Schedule is reasonable and non-discriminatory because it will 
apply uniformly to all members.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe its proposed amendments to its Fee 
Schedule would impose any burden on competition that is not necessary 
or appropriate in furtherance of the purposes of the Act. The proposed 
rule change will terminate the Revenue Sharing Program with IDC, as 
well as the fees for the products offered thereunder from its fee 
schedule, effective as of August 29, 2015, and is not designed to have 
a competitive impact. Therefore, the Exchange does not believe the 
proposed rule change will have any effect on competition.

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) of the Act \10\ and paragraph (f) of Rule 19b-4 
thereunder.\11\ 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.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

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-BATS-2015-60 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-BATS-2015-60. 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

[[Page 51342]]

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-BATS-2015-60, and should be 
submitted on or before September 14, 2015.
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-20790 Filed 8-21-15; 8:45 am]
BILLING CODE 8011-01-P
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