Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Rules 1.5(r) and 11.1 and Adopt New Rule 11.1(a)(1), 65823-65824 [2015-27220]

Download as PDF Federal Register / Vol. 80, No. 207 / Tuesday, October 27, 2015 / Notices The following individuals appointed as members of the NRC PRB are responsible for making recommendations to the appointing and awarding authorities on performance appraisal ratings and performance awards for Senior Executives and Senior Level System employees: SUPPLEMENTARY INFORMATION: tkelley on DSK3SPTVN1PROD with NOTICES Victor M. McCree, Executive Director for Operations Margaret M. Doane, General Counsel Glenn M. Tracy, Deputy Executive Director for Materials, Waste, Research, State, Tribal, Compliance, Administration, and Human Capital, Office of the Executive Director for Operations Cynthia A. Carpenter, Director, Office of Administration Catherine Haney, Director, Office of Nuclear Material Safety and Safeguards Michael R. Johnson, Deputy Executive Director for Reactor and Preparedness Programs, Office of the Executive Director for Operations Nader L. Mamish, Director, Office of International Programs Cynthia D. Pederson, Regional Administrator, Region III Michael F. Weber, Director, Office of Nuclear Regulatory Research William M. Dean, Director, Office of Nuclear Reactor Regulation Maureen E. Wylie, Chief Financial Officer The following individuals will serve as members of the NRC PRB Panel that was established to review appraisals and make recommendations to the appointing and awarding authorities for NRC PRB members: Jennifer L. Uhle, Director, Office of New Reactors Marian L. Zobler, Associate General Counsel for Hearings, Enforcement and Administration, Office of the General Counsel Brian E. Holian, Director, Office of Nuclear Security and Incident Response All appointments are made pursuant to Section 4314 of Chapter 43 of Title 5 of the United States Code. Dated at Rockville, Maryland, this 10th day of October, 2015. For the U.S. Nuclear Regulatory Commission. Miriam L. Cohen, Secretary, Executive Resources Board. [FR Doc. 2015–27390 Filed 10–26–15; 8:45 am] BILLING CODE 7590–01–P VerDate Sep<11>2014 18:24 Oct 26, 2015 Jkt 238001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76211; File No. SR–EDGX– 2015–41] Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Rules 1.5(s), 11.1(a)(1), 11.6 and 11.8 October 21, 2015. On September 3, 2015, EDGX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘EDGX’’) 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 amend rules related to the Pre-Opening Session, including revising: (1) Exchange Rule 1.5(s) to state that the Pre-Opening Session will start at 7:00 a.m. rather than 8:00 a.m. Eastern Time and (2) Exchange Rule 11.1(a)(1) regarding the hours of trading and trading days of the Exchange to account for the PreOpening Session starting at 7:00 a.m. Eastern Time. The Exchange also proposes to adopt a new order instruction, Effective Start Time, including revising: (1) Exchange Rule 11.6 to define Effective Start Time as an order instruction that would allow Members 3 to indicate a time upon which their order may become eligible for execution and (2) Exchange Rule 11.8 to identify the order types that may utilize an Effective Start Time order instruction. The proposed rule change was published for comment in the Federal Register on September 10, 2015.4 Section 19(b)(2) of the Act 5 provides that, within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 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). 4 See Securities Exchange Act Release No. 75834 (September 3, 2015), 80 FR 54617 (SR–EDGX–2015– 41). 5 15 U.S.C. 78s(b)(2). 65823 disapproved. The Commission is extending this 45-day time period. 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 proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates December 9, 2015, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR–EDGX–2015–41). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Brent J. Fields, Secretary. [FR Doc. 2015–27215 Filed 10–26–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76206; File No. SR–BYX– 2015–38] Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Rules 1.5(r) and 11.1 and Adopt New Rule 11.1(a)(1) October 21, 2015. On September 1, 2015, BATS YExchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) 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 amend rules related to the Pre-Opening Session, including revising: (1) Exchange Rule 1.5(r) to state that the Pre-Opening Session will start at 7:00 a.m. rather than 8:00 a.m. Eastern Time and (2) Exchange Rule 11.1(a) regarding the hours of trading and trading days of the Exchange to account for the PreOpening Session starting at 7:00 a.m. Eastern Time. The Exchange also proposes to adopt new Exchange Rule 11.1(a)(1) to define Effective Start Time, an order instruction that would allow Members 3 to indicate a time upon which their order may become eligible 2 17 PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 6 Id. 7 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 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\27OCN1.SGM 27OCN1 65824 Federal Register / Vol. 80, No. 207 / Tuesday, October 27, 2015 / Notices for execution. The proposed rule change was published for comment in the Federal Register on September 10, 2015.4 Section 19(b)(2) of the Act 5 provides that, within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The Commission is extending this 45-day time period. 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 proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates December 9, 2015, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR–BYX–2015–38). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Brent J. Fields, Secretary. [FR Doc. 2015–27220 Filed 10–26–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76207; File No. SR–BYX– 2015–45] Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 11.24, Retail Price Improvement Program October 21, 2015. tkelley on DSK3SPTVN1PROD with NOTICES 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 October 14, 2015, BATS Y-Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) filed with the 4 See Securities Exchange Act Release No. 75831 (September 3, 2015), 80 FR 54631 (SR–BYX–2015– 38). 5 15 U.S.C. 78s(b)(2). 6 Id. 7 17 CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 18:24 Oct 26, 2015 Jkt 238001 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) 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 the Substance of the Proposed Rule Change The Exchange filed a proposal to amend Rule 11.24, which governs the Exchange’s Retail Price Improvement Program (‘‘Retail Program’’), to distinguish between retail orders routed on behalf of other broker-dealers and retail orders that are routed on behalf of introduced retail accounts that are carried on a fully disclosed basis, as further described below. 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 amend Rule 11.24, which governs the Exchange’s Retail Program,5 to distinguish between orders routed on behalf of other broker-dealers and orders 3 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 5 In November 2012, the Commission approved the RPI Program on a pilot basis. See Securities Exchange Act Release No. 68303 (November 27, 2012), 77 FR 71652 (December 3, 2012) (SR–BYX– 2012–019). 4 17 PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 routed on behalf of introduced retail accounts that are carried on a fully disclosed basis, as further described below. The Exchange established the Retail Program in an attempt to attract retail order flow to the Exchange by potentially providing price improvement to such order flow. Under the Retail Program, Retail Member Organizations 6 (‘‘RMOs’’) are permitted to submit Retail Orders.7 All Exchange Users 8 are permitted members to submit Retail Price Improvement Orders (‘‘RPI Orders’’),9 which are designed to provide potential price improvement for Retail Orders in the form of nondisplayed interest that is better than the national best bid that is a Protected Quotation (‘‘Protected NBB’’) or the national best offer that is a Protected Quotation (‘‘Protected NBO’’, and together with the Protected NBB, the ‘‘Protected NBBO’’).10 In addition, RMOs may optionally designate Retail Orders to be identified as Retail on the Exchange’s proprietary data feeds.11 Exchange Rule 11.24(b)(1) currently states that ‘‘[t]o qualify as a Retail Member Organization, a Member must conduct a retail business or handle retail orders on behalf of another brokerdealer.’’ 12 Rather than stating that one way to qualify as an RMO is to ‘‘handle’’ retail orders on behalf of another brokerdealer, the Exchange proposes to state that a Member may qualify as an RMO if it ‘‘routes’’ retail orders on behalf of another broker-dealer. The Exchange believes that providing routing services on behalf of other broker-dealers with retail order flow was the intended meaning of the provision and that the term ‘‘handle’’ is vague. Thus, the Exchange believes that the description 6 A Retail Member Organization is a Member (or a division thereof) that has been approved by the Exchange under Rule 11.24 to submit Retail Orders. 7 A Retail Order is an agency order that originates from a natural person and is submitted to the Exchange by a RMO, provided that no change is made to the terms of the order with respect to price or side of market and the order does not originate from a trading algorithm or any computerized methodology. 8 A ‘‘User’’ is defined ‘‘as any member or sponsored participant who is authorized to obtain access to the System.’’ See Rule 1.5(cc). 9 A ‘‘Retail Price Improvement Order’’ is defined in Rule 11.24(a)(3) as an order that consists of nondisplayed interest on the Exchange that is priced better than the Protected NBB or Protected NBO by at least $0.001 and that is identified as such. See Rule 11.24(a)(3). 10 The term Protected Quotation is defined in Rule 1.5(t) and has the same meaning as is set forth in Regulation NMS Rule 600(b)(58). The terms Protected NBB and Protected NBO are defined in Rule 1.5(s). The Protected NBB is the best-priced protected bid and the Protected NBO is the bestpriced protected offer. 11 See Rule 11.24(i). 12 Emphasis added. E:\FR\FM\27OCN1.SGM 27OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 80, Number 207 (Tuesday, October 27, 2015)]
[Notices]
[Pages 65823-65824]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-27220]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76206; File No. SR-BYX-2015-38]


Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend Rules 1.5(r) and 11.1 and Adopt New Rule 11.1(a)(1)

October 21, 2015.
    On September 1, 2015, BATS Y-Exchange, Inc. (the ``Exchange'' or 
``BYX'') 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 amend rules related to the Pre-Opening Session, 
including revising: (1) Exchange Rule 1.5(r) to state that the Pre-
Opening Session will start at 7:00 a.m. rather than 8:00 a.m. Eastern 
Time and (2) Exchange Rule 11.1(a) regarding the hours of trading and 
trading days of the Exchange to account for the Pre-Opening Session 
starting at 7:00 a.m. Eastern Time. The Exchange also proposes to adopt 
new Exchange Rule 11.1(a)(1) to define Effective Start Time, an order 
instruction that would allow Members \3\ to indicate a time upon which 
their order may become eligible

[[Page 65824]]

for execution. The proposed rule change was published for comment in 
the Federal Register on September 10, 2015.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 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).
    \4\ See Securities Exchange Act Release No. 75831 (September 3, 
2015), 80 FR 54631 (SR-BYX-2015-38).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
Commission is extending this 45-day time period. 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 proposed rule change.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates December 9, 2015, as the date by which the 
Commission shall either approve or disapprove or institute proceedings 
to determine whether to disapprove the proposed rule change (File 
Number SR-BYX-2015-38).
---------------------------------------------------------------------------

    \6\ Id.
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Brent J. Fields,
Secretary.
 [FR Doc. 2015-27220 Filed 10-26-15; 8:45 am]
BILLING CODE 8011-01-P

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