Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 13.4 Relating to the Reactivation of NSX, 53206-53207 [2015-21666]
Download as PDF
<![CDATA[
53206
Federal Register / Vol. 80, No. 170 / Wednesday, September 2, 2015 / Notices
https://osc.gov/Pages/ResourcesReportsAndInfo.aspx.
Comments should be received no later
than October 2, 2015.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Dated: August 26, 2015.
Carolyn N. Lerner,
Special Counsel.
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.
[FR Doc. 2015–21779 Filed 9–1–15; 8:45 am]
BILLING CODE 7405–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75772; File No. SR–EDGX–
2015–39]
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Rule 13.4
Relating to the Reactivation of NSX
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
August 27, 2015.
The Exchange proposes to update
Rule 13.4(a) regarding the public
disclosure of the sources of data that the
Exchange utilizes when performing: (i)
Order handling; (ii) order routing; and
(iii) related compliance processes to
reflect reactivation of the NSX on or
about August 31, 2015. The NSX
informed the UTP Securities
Information Processor (‘‘UTP SIP’’) that,
subject to regulatory approval, it is
projecting to reactivate its status as an
operating participant for quotation and
trading of Nasdaq-listed securities under
the Unlisted Trading Privileges (‘‘UTP’’)
Plan on or about August 31, 2015.
Specifically, the Exchange proposes to
amend Rule 13.4(a) to include the NSX
by stating it will utilize NSX market
data from the CQS/UQDF for purposes
of order handling, routing, and related
compliance processes.
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
18, 2015, EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) 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.
mstockstill on DSK4VPTVN1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange filed a proposal to
amend Rule 13.4(a) regarding the public
disclosure of the sources of data that the
Exchange utilizes when performing: (i)
Order handling; (ii) order routing; and
(iii) related compliance processes to
reflect reactivation of the National Stock
Exchange, Inc. (‘‘NSX’’) on or about
August 31, 2015.
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.
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).
1. Purpose
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b) of the Act,5 in general, and
furthers the objectives of section 6(b)(5)
of the Act,6 in particular, in that it 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.
The Exchange believes that its
proposal to update Exchange Rule
13.4(a) to include NSX would ensure
that rule correctly identifies and
publicly states on a market-by-market
basis all of the specific network
processor and proprietary data feeds
that the Exchange utilizes for the
handling, routing, and execution of
orders, and for performing the
regulatory compliance checks related to
each of those functions. The proposed
rule change also removes impediments
to and perfects the mechanism of a free
and open market and protects investors
and the public interest because it
provides additional specificity, clarity
and transparency.
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes its proposed
rule change would not impose any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. To the
contrary, the Exchange believes the
proposal would enhance competition
because including all of the exchanges
enhances transparency and enables
investors to better assess the quality of
the Exchange’s execution and routing
services.
(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 Exchange has designated this rule
filing as non-controversial under section
19(b)(3)(A) of the Act 7 and paragraph
(f)(6) of Rule 19b–4 thereunder.8 The
proposed rule change effects a change
that (A) does not significantly affect the
protection of investors or the public
interest; (B) does not impose any
significant burden on competition; and
(C) by its terms, does not become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest; provided that the selfregulatory organization has given the
Commission written notice of its intent
to file the proposed rule change, along
2 17
VerDate Sep<11>2014
19:04 Sep 01, 2015
5 15
6 15
Jkt 235001
PO 00000
U.S.C. 78f.
U.S.C. 78f(b)(5).
Frm 00106
Fmt 4703
7 15
8 17
Sfmt 4703
E:\FR\FM\02SEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4.
02SEN1
Federal Register / Vol. 80, No. 170 / Wednesday, September 2, 2015 / Notices
mstockstill on DSK4VPTVN1PROD with NOTICES
with a brief description and text of 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.9
A proposed rule change filed under
Rule 19b–4(f)(6) 10 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),11 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
immediately upon filing. The Exchange
believes that waiver of the 30-day
operative delay would benefit investors
because it would enable the Exchange to
immediately enhance transparency and
to accommodate the reactivation of the
NSX on or about August 31, 2015 as an
operating participant for quotation and
trading of Nasdaq-listed securities under
the UTP Plan. The Commission believes
that waiving the 30-day operative delay
is consistent with the protection of
investors and the public interest
because it will enable the Exchange’s
rules to accommodate the reactivation of
the NSX and to identify, without delay,
all of the specific network processor and
proprietary data feeds that the Exchange
utilizes for the handling, routing, and
execution of orders, and for performing
the regulatory compliance checks
related to each of those functions.
Therefore, the Commission hereby
waives the 30-day operative delay and
designates the proposed rule change to
be operative upon filing with the
Commission.12
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily
temporarily suspend such rule change if
it appears to the Commission that such
action is: (1) Necessary or appropriate in
the public interest; (2) for the protection
of investors; or (3) 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,
9 The
Exchange has fulfilled this requirement.
CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6)(iii).
12 For purposes only of waiving the operative date
of this proposal, the Commission has considered
the proposed rule’s impact on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
10 17
VerDate Sep<11>2014
19:04 Sep 01, 2015
Jkt 235001
including whether the proposal 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 No. SR–
EDGX–2015–39 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 No.
SR–EDGX–2015–39. 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 will also 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 No. SR–EDGX–
2015–39 and should be submitted on or
before September 23, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–21666 Filed 9–1–15; 8:45 am]
BILLING CODE 8011–01–P
13 17
PO 00000
Frm 00107
Fmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75769; File No. SR–BATS–
2015–65]
Self-Regulatory Organizations; BATS
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Rule 11.26
Relating to the Reactivation of NSX
August 27, 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
18, 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 filed a proposal to
amend Rule 11.26(a) regarding the
public disclosure of the sources of data
that the Exchange utilizes when
performing: (i) Order handling; (ii) order
routing; and (iii) related compliance
processes to reflect reactivation of the
National Stock Exchange, Inc. (‘‘NSX’’)
on or about August 31, 2015.
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
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
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).
2 17
CFR 200.30–3(a)(12).
Sfmt 4703
53207
E:\FR\FM\02SEN1.SGM
02SEN1
]]>Agencies
[Federal Register Volume 80, Number 170 (Wednesday, September 2, 2015)]
[Notices]
[Pages 53206-53207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-21666]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75772; File No. SR-EDGX-2015-39]
Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Rule 13.4 Relating to the Reactivation of NSX
August 27, 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 18, 2015, EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') 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 ``non-controversial'' 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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange filed a proposal to amend Rule 13.4(a) regarding the
public disclosure of the sources of data that the Exchange utilizes
when performing: (i) Order handling; (ii) order routing; and (iii)
related compliance processes to reflect reactivation of the National
Stock Exchange, Inc. (``NSX'') on or about August 31, 2015.
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 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 update Rule 13.4(a) regarding the public
disclosure of the sources of data that the Exchange utilizes when
performing: (i) Order handling; (ii) order routing; and (iii) related
compliance processes to reflect reactivation of the NSX on or about
August 31, 2015. The NSX informed the UTP Securities Information
Processor (``UTP SIP'') that, subject to regulatory approval, it is
projecting to reactivate its status as an operating participant for
quotation and trading of Nasdaq-listed securities under the Unlisted
Trading Privileges (``UTP'') Plan on or about August 31, 2015.
Specifically, the Exchange proposes to amend Rule 13.4(a) to include
the NSX by stating it will utilize NSX market data from the CQS/UQDF
for purposes of order handling, routing, and related compliance
processes.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b) of the Act,\5\ in general, and furthers the
objectives of section 6(b)(5) of the Act,\6\ in particular, in that it
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.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f.
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that its proposal to update Exchange Rule
13.4(a) to include NSX would ensure that rule correctly identifies and
publicly states on a market-by-market basis all of the specific network
processor and proprietary data feeds that the Exchange utilizes for the
handling, routing, and execution of orders, and for performing the
regulatory compliance checks related to each of those functions. The
proposed rule change also removes impediments to and perfects the
mechanism of a free and open market and protects investors and the
public interest because it provides additional specificity, clarity and
transparency.
(B) Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes its proposed rule change would not impose any
burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. To the contrary, the Exchange
believes the proposal would enhance competition because including all
of the exchanges enhances transparency and enables investors to better
assess the quality of the Exchange's execution and routing services.
(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 Exchange has designated this rule filing as non-controversial
under section 19(b)(3)(A) of the Act \7\ and paragraph (f)(6) of Rule
19b-4 thereunder.\8\ The proposed rule change effects a change that (A)
does not significantly affect the protection of investors or the public
interest; (B) does not impose any significant burden on competition;
and (C) by its terms, does not become operative for 30 days after the
date of the filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest; provided that the self-regulatory organization has given the
Commission written notice of its intent to file the proposed rule
change, along
[[Page 53207]]
with a brief description and text of 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.\9\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4.
\9\ The Exchange has fulfilled this requirement.
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \10\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\11\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Exchange believes
that waiver of the 30-day operative delay would benefit investors
because it would enable the Exchange to immediately enhance
transparency and to accommodate the reactivation of the NSX on or about
August 31, 2015 as an operating participant for quotation and trading
of Nasdaq-listed securities under the UTP Plan. The Commission believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because it will enable
the Exchange's rules to accommodate the reactivation of the NSX and to
identify, without delay, all of the specific network processor and
proprietary data feeds that the Exchange utilizes for the handling,
routing, and execution of orders, and for performing the regulatory
compliance checks related to each of those functions. Therefore, the
Commission hereby waives the 30-day operative delay and designates the
proposed rule change to be operative upon filing with the
Commission.\12\
---------------------------------------------------------------------------
\10\ 17 CFR 240.19b-4(f)(6).
\11\ 17 CFR 240.19b-4(f)(6)(iii).
\12\ For purposes only of waiving the operative date of this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily temporarily suspend such rule
change if it appears to the Commission that such action is: (1)
Necessary or appropriate in the public interest; (2) for the protection
of investors; or (3) 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 proposal 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 No. SR-EDGX-2015-39 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 No. SR-EDGX-2015-39. 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 will also 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 No. SR-EDGX-2015-39 and should be
submitted on or before September 23, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
Robert W. Errett,
Deputy Secretary.
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. 2015-21666 Filed 9-1-15; 8:45 am]
BILLING CODE 8011-01-P
