Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend its Rules as Well as Certain Corporate Documents of the Exchange To Reflect a Legal Name Change by BATS Global Markets, Inc. and the Legal Names of Certain Subsidiaries, 12759-12761 [2016-05328]
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Federal Register / Vol. 81, No. 47 / Thursday, March 10, 2016 / Notices
the Exchange or BATS Global Markets,
Inc. have taken place.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with section 6(b)
of the Act,10 in general, and furthers the
objectives of section 6(b)(5) of the Act,11
in particular, in that it is designed to
promote just and equitable principles of
trade, 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 also believes that the
proposed rule change is consistent with
section 6(b)(1) of the Act 12 in that it is
designed to continue to ensure that the
Exchange is so organized and has the
capacity to carry out the purposes of Act
and to comply, and enforce compliance
by its members with the provisions of
the Act and the rules and regulations
thereunder, and rules of the Exchange.
The Exchange is proposing amendments
to the Operative Documents to
effectuate its name change to Bats EDGX
Exchange, Inc. and to reflect the name
changes of its affiliates. These changes
are limited to capitalization and
ministerial name changes and to reflect
similar proposed rule changes to be
submitted to the Commission by the
Exchange’s affiliates. The Exchange
believes that the changes will protect
investors and the public interest by
eliminating confusion that may exist
because of differences between its
corporate name and the new naming
conventions of the Parent and its
subsidiaries, including the Exchange.
mstockstill on DSK4VPTVN1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Because the rule change proposes
ministerial changes related to the
administration, and not the governance
or operation, of the Exchange, the
Exchange does not believe that the
proposed rule change will impose any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
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.
U.S.C. 78f.
U.S.C. 78f(b)(5).
12 15 U.S.C. 78f(b)(1).
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because it is concerned solely with
the administration of the Exchange, the
foregoing proposed rule change has
become effective pursuant to section
19(b)(3)(A)(iii) of the Act 13 and Rule
19b–4(f)(3) thereunder.14
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: (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 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–
EDGX–2016–14 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–EDGX–2016–14. 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
10 15
11 15
VerDate Sep<11>2014
17:55 Mar 09, 2016
13 15
14 17
Jkt 238001
PO 00000
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(3).
Frm 00080
Fmt 4703
Sfmt 4703
12759
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–EDGX–
2016–14, and should be submitted on or
before March 31,2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Brent J. Fields,
Secretary.
[FR Doc. 2016–05327 Filed 3–9–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77299; File No. SR–EDGA–
2016–05]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend its Rules as
Well as Certain Corporate Documents
of the Exchange To Reflect a Legal
Name Change by BATS Global
Markets, Inc. and the Legal Names of
Certain Subsidiaries
March 4, 2016.
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 February
26, 2016, EDGA Exchange, Inc. f/k/a
EDGA Exchange, Inc. (the ‘‘Exchange’’
or ‘‘EDGA’’) 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 this proposal
as one being concerned solely with the
administration of the Exchange
pursuant to Section 19(b)(3)(A)(iii) of
the Act 3 and Rule 19b–4(f)(3)
thereunder,4 which renders the proposal
effective upon filing with the
Commission. The Commission is
15 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)(iii).
4 17 CFR 240.19b–4(f)(3).
1 15
E:\FR\FM\10MRN1.SGM
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12760
Federal Register / Vol. 81, No. 47 / Thursday, March 10, 2016 / Notices
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 a rule
change to amend its rules as well as
certain corporate documents of the
Exchange to reflect a legal name change
by the Exchange’s ultimate parent
entity, BATS Global Markets, Inc. (the
‘‘Parent’’) to Bats Global Markets, Inc.,
and the legal names of certain of the
Parent’s subsidiaries. As a result of this
change, the Exchange also proposes to
amend its rules to change its name from
EDGA Exchange, Inc. to Bats EDGA
Exchange, Inc. throughout its rules and
corporate documents.
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 the
Statutory Basis for, the Proposed Rule
Change
mstockstill on DSK4VPTVN1PROD with NOTICES
1. Purpose
The Exchange, on behalf of its Parent,
recently filed to change the Parent’s
legal name from ‘‘BATS Global Markets,
Inc.’’ to ‘‘Bats Global Markets, Inc.’’ 5
For the purposes of consistency, certain
of the Parent’s subsidiaries have also
undertaken to change their legal names.
As a result, the Exchange also proposes
to change its name from EDGA
Exchange, Inc. to Bats EDGA Exchange,
Inc. throughout its rules and corporate
documents (collectively, with the other
legal name changes for Parent and
certain of its subsidiaries, the ‘‘name
5 See Securities Exchange Act Release No. 77146
(February 16, 2016) (SR–EDGA–2016–01).
VerDate Sep<11>2014
19:09 Mar 09, 2016
Jkt 238001
changes’’).6 Therefore, the Exchange
proposes to amend its: (i) Rulebook; (ii)
fee schedule issued pursuant to
Exchange Rules 15.1(a) and (c) (‘‘Fee
Schedule’’); (iii) Restated Certificate of
Incorporation (‘‘Certificate’’); and (iv)
Fourth Amended and Restated Bylaws
of the Exchange (‘‘Bylaws’’)
(collectively, the ‘‘Operative
Documents’’) to reflect the name change
and to replace all references to ‘‘BATS’’
with ‘‘Bats’’.
The Exchange proposes to replace all
references to BATS with Bats
throughout the Exchange’s Rulebook
and Fee Schedule. The Exchange
understands that its affiliated Exchanges
also intend to file similar proposed rule
changes with the Commission to amend
their exchange names.7 Therefore, the
Exchange proposes to amend the
following rules to reflect the name
changes, including the expected filings
by its affiliates to amend their names:
Rule 1.5 (Definitions), Rule 2.3 (Member
Eligibility), Rule 2.10 (Affiliation
Between Exchange and a Member), Rule
2.11 (BATS Trading, Inc. as Outbound
Router), Rule 2.12 (BATS Trading, Inc.
as Inbound Router), Rule 11.11 (Routing
to Away Trading Centers), Rule 13.4
(Usage of Data Feeds), Rule 13.8 (EDGA
Book Feeds), Rule 13.9 (BATS Connect),
Rule 14.2 (Investment Company Units),
and Rule 14.8 (Portfolio Depository
Receipts). Throughout these rules, the
Exchange proposes the following
changes:
• All references to ‘‘EDGA
EXCHANGE’’ and ‘‘EDGA EXCHANGE,
Inc.’’ are proposed to be changed to
‘‘Bats EDGA Exchange’’ and ‘‘Bats
EDGA Exchange, Inc.’’, respectively;
• All references to ‘‘EDGA’’ in Rule
13.8 are proposed to be changed to ‘‘the
Exchange’’;
• All references to ‘‘BATS’’ are
proposed to be changed to ‘‘Bats’’;
• All references to the Parent are
proposed to be changed to ‘‘Bats Global
Markets, Inc.’’ (which includes changes
from ‘‘BATS’’ to ‘‘Bats’’ as well as the
correction of pre-existing errors in such
references);
• All references to ‘‘BATS Exchange,
Inc.’’ are proposed to be changed to
‘‘Bats BZX Exchange, Inc.’’;
6 The Exchange initially filed the proposed fee
[sic] change on February 19, 2016 (SR–EDGA–
2016–04). On February 26, 2016, the Exchange
withdrew that filing and submitted this filing.
7 The Exchange’s affiliates are EDGX Exchange,
Inc., BATS Exchange, Inc. and BATS Y-Exchange,
Inc. The Exchange understands that proposed rule
changes are to be filed by each of its affiliates to
amend their names as follows: EDGX Exchange, Inc.
would be changed to Bats EDGX Exchange, Inc.,
BATS Exchange, Inc. would be amended to Bats
BZX Exchange, Inc., and BATS Y-Exchange, Inc.
would be amended to Bats BYX Exchange, Inc.
PO 00000
Frm 00081
Fmt 4703
Sfmt 4703
• All references to ‘‘BATS Y–
Exchange, Inc.’’ are proposed to be
changed to ‘‘Bats BYX Exchange, Inc.’’;
• All references to ‘‘EDGX Exchange,
Inc.’’ are proposed to be changed to
‘‘Bats EDGX Exchange, Inc.’’
In addition to these changes, the
Exchange proposes to modify its Fee
Schedule to reflect the name change of
the Exchange to Bats EDGA Exchange 8
and to change all references to ‘‘BATS’’
to instead refer to ‘‘Bats’’. The Exchange
also proposes on its Fee Schedule to
refer to its affiliates, Bats BZX Exchange,
Inc. and Bats BYX Exchange, Inc. (as
each is proposed to be re-named),
simply as ‘‘BZX’’ and ‘‘BYX’’,
respectively. The Exchange believes that
this is more consistent with other
references on the Fee Schedule, such as
the general references to ‘‘EDGX’’,
which refer to the Exchange’s affiliate,
Bats EDGX Exchange, Inc. (as proposed
to be re-named).
The Exchange also proposes to amend
Article First of the Certificate to change
the name of the Exchange to Bats EDGA
Exchange, Inc. and make conforming
changes throughout, including the title
of the Certificate. The Exchange
proposes to amend the Bylaws to amend
the title to reflect that the Bylaws will
be titled the ‘‘FIFTH AMENDED AND
RESTATED BYLAWS OF BATS EDGA
EXCHANGE, INC.’’ The Exchange also
proposes to amend Article I, paragraph
(f) and Article XI, Section 2 to reflect the
name changes.
The name change from EDGA
Exchange, Inc. to Bats EDGA Exchange,
Inc. is a non-substantive change. No
changes to the ownership or structure of
the Exchange or BATS Global Markets,
Inc. have taken place.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,9 in general, and furthers the
objectives of Section 6(b)(5) of the Act,10
in particular, in that it is designed to
promote just and equitable principles of
trade, 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 also believes that the
proposed rule change is consistent with
Section 6(b)(1) of the Act 11 in that it is
8 The Exchange notes that the Exchange will
continue to be referred to as ‘‘EDGA’’ in certain
areas of the Fee Schedule. These areas of the Fee
Schedule are: (i) The Fee Codes and Associated
Fees table; (ii) footnote 1 under Membership Fees;
(iii) Bats Connect pricing table; and (iv) Unicast
Access—Order Entry.
9 15 U.S.C. 78f.
10 15 U.S.C. 78f(b)(5).
11 15 U.S.C. 78f(b)(1).
E:\FR\FM\10MRN1.SGM
10MRN1
Federal Register / Vol. 81, No. 47 / Thursday, March 10, 2016 / Notices
designed to continue to ensure that the
Exchange is so organized and has the
capacity to carry out the purposes of Act
and to comply, and enforce compliance
by its members with the provisions of
the Act and the rules and regulations
thereunder, and rules of the Exchange.
The Exchange is proposing amendments
to the Operative Documents to
effectuate its name change to Bats EDGA
Exchange, Inc. and to reflect the name
changes of its affiliates. These changes
are limited to capitalization and
ministerial name changes and to reflect
similar proposed rule changes to be
submitted to the Commission by the
Exchange’s affiliates. The Exchange
believes that the changes will protect
investors and the public interest by
eliminating confusion that may exist
because of differences between its
corporate name and the new naming
conventions of the Parent and its
subsidiaries, including the Exchange.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Because the rule change proposes
ministerial changes related to the
administration, and not the governance
or operation, of the Exchange, the
Exchange does not believe that the
proposed rule change will impose any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
• 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–EDGA–2016–05. 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–EDGA–
2016–05, and should be submitted on or
before March 31, 2016.
mstockstill on DSK4VPTVN1PROD with NOTICES
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
Because it is concerned solely with
the administration of the Exchange, the
foregoing proposed rule change has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 12 and Rule
19b–4(f)(3) thereunder.13
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: (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.
12 15
13 17
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(3).
VerDate Sep<11>2014
17:55 Mar 09, 2016
Jkt 238001
IV. Solicitation of Comments
12761
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Brent J. Fields,
Secretary.
[FR Doc. 2016–05328 Filed 3–9–16; 8:45 am]
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:
BILLING CODE 8011–01–P
Electronic Comments
Submission for OMB Review;
Comment Request
• 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–
EDGA–2016–05 on the subject line.
Frm 00082
Fmt 4703
[SEC File No. 270–523, OMB Control No.
3235–0585]
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension: Rule 206(4)–7.
Paper Comments
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
Sfmt 4703
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the
previously approved collection of
information discussed below.
The title for the collection of
information is ‘‘Investment Advisers Act
rule 206(4)–7 (17 CFR 275.206(4)–7),
Compliance procedures and practices.’’
Rule 206(4)–7 requires each investment
adviser registered with the Commission
to (i) adopt and implement internal
compliance policies and procedures, (ii)
review those policies and procedures
annually, (iii) designate a chief
compliance officer, and (iv) maintain
certain compliance records. Rule
206(4)–7 is designed to protect investors
by fostering better compliance with the
securities laws. The collection of
information under rule 206(4)–7 is
necessary to assure that investment
advisers maintain comprehensive
internal programs that promote the
advisers’ compliance with the
Investment Advisers Act of 1940. The
information collection in the rule also
assists the Commission’s examination
staff in assessing the adequacy advisers’
compliance programs. This collection of
information is found at 17 CFR
275.206(4)–7 and is mandatory.
The information documented
pursuant to rule 206(4)–7 is reviewed by
the Commission’s examination staff; it
will be accorded the same level of
confidentiality accorded to other
responses provided to the Commission
in the context of its examination and
14 17
E:\FR\FM\10MRN1.SGM
CFR 200.30–3(a)(12).
10MRN1
]]>Agencies
[Federal Register Volume 81, Number 47 (Thursday, March 10, 2016)]
[Notices]
[Pages 12759-12761]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-05328]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77299; File No. SR-EDGA-2016-05]
Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
its Rules as Well as Certain Corporate Documents of the Exchange To
Reflect a Legal Name Change by BATS Global Markets, Inc. and the Legal
Names of Certain Subsidiaries
March 4, 2016.
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 February 26, 2016, EDGA Exchange, Inc. f/k/a EDGA Exchange,
Inc. (the ``Exchange'' or ``EDGA'') 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 this proposal as one being
concerned solely with the administration of the Exchange pursuant to
Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-4(f)(3)
thereunder,\4\ which renders the proposal effective upon filing with
the Commission. The Commission is
[[Page 12760]]
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)(iii).
\4\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange is proposing a rule change to amend its rules as well
as certain corporate documents of the Exchange to reflect a legal name
change by the Exchange's ultimate parent entity, BATS Global Markets,
Inc. (the ``Parent'') to Bats Global Markets, Inc., and the legal names
of certain of the Parent's subsidiaries. As a result of this change,
the Exchange also proposes to amend its rules to change its name from
EDGA Exchange, Inc. to Bats EDGA Exchange, Inc. throughout its rules
and corporate documents.
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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange, on behalf of its Parent, recently filed to change the
Parent's legal name from ``BATS Global Markets, Inc.'' to ``Bats Global
Markets, Inc.'' \5\ For the purposes of consistency, certain of the
Parent's subsidiaries have also undertaken to change their legal names.
As a result, the Exchange also proposes to change its name from EDGA
Exchange, Inc. to Bats EDGA Exchange, Inc. throughout its rules and
corporate documents (collectively, with the other legal name changes
for Parent and certain of its subsidiaries, the ``name changes'').\6\
Therefore, the Exchange proposes to amend its: (i) Rulebook; (ii) fee
schedule issued pursuant to Exchange Rules 15.1(a) and (c) (``Fee
Schedule''); (iii) Restated Certificate of Incorporation
(``Certificate''); and (iv) Fourth Amended and Restated Bylaws of the
Exchange (``Bylaws'') (collectively, the ``Operative Documents'') to
reflect the name change and to replace all references to ``BATS'' with
``Bats''.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 77146 (February 16,
2016) (SR-EDGA-2016-01).
\6\ The Exchange initially filed the proposed fee [sic] change
on February 19, 2016 (SR-EDGA-2016-04). On February 26, 2016, the
Exchange withdrew that filing and submitted this filing.
---------------------------------------------------------------------------
The Exchange proposes to replace all references to BATS with Bats
throughout the Exchange's Rulebook and Fee Schedule. The Exchange
understands that its affiliated Exchanges also intend to file similar
proposed rule changes with the Commission to amend their exchange
names.\7\ Therefore, the Exchange proposes to amend the following rules
to reflect the name changes, including the expected filings by its
affiliates to amend their names: Rule 1.5 (Definitions), Rule 2.3
(Member Eligibility), Rule 2.10 (Affiliation Between Exchange and a
Member), Rule 2.11 (BATS Trading, Inc. as Outbound Router), Rule 2.12
(BATS Trading, Inc. as Inbound Router), Rule 11.11 (Routing to Away
Trading Centers), Rule 13.4 (Usage of Data Feeds), Rule 13.8 (EDGA Book
Feeds), Rule 13.9 (BATS Connect), Rule 14.2 (Investment Company Units),
and Rule 14.8 (Portfolio Depository Receipts). Throughout these rules,
the Exchange proposes the following changes:
---------------------------------------------------------------------------
\7\ The Exchange's affiliates are EDGX Exchange, Inc., BATS
Exchange, Inc. and BATS Y-Exchange, Inc. The Exchange understands
that proposed rule changes are to be filed by each of its affiliates
to amend their names as follows: EDGX Exchange, Inc. would be
changed to Bats EDGX Exchange, Inc., BATS Exchange, Inc. would be
amended to Bats BZX Exchange, Inc., and BATS Y-Exchange, Inc. would
be amended to Bats BYX Exchange, Inc.
---------------------------------------------------------------------------
All references to ``EDGA EXCHANGE'' and ``EDGA EXCHANGE,
Inc.'' are proposed to be changed to ``Bats EDGA Exchange'' and ``Bats
EDGA Exchange, Inc.'', respectively;
All references to ``EDGA'' in Rule 13.8 are proposed to be
changed to ``the Exchange'';
All references to ``BATS'' are proposed to be changed to
``Bats'';
All references to the Parent are proposed to be changed to
``Bats Global Markets, Inc.'' (which includes changes from ``BATS'' to
``Bats'' as well as the correction of pre-existing errors in such
references);
All references to ``BATS Exchange, Inc.'' are proposed to
be changed to ``Bats BZX Exchange, Inc.'';
All references to ``BATS Y-Exchange, Inc.'' are proposed
to be changed to ``Bats BYX Exchange, Inc.'';
All references to ``EDGX Exchange, Inc.'' are proposed to
be changed to ``Bats EDGX Exchange, Inc.''
In addition to these changes, the Exchange proposes to modify its
Fee Schedule to reflect the name change of the Exchange to Bats EDGA
Exchange \8\ and to change all references to ``BATS'' to instead refer
to ``Bats''. The Exchange also proposes on its Fee Schedule to refer to
its affiliates, Bats BZX Exchange, Inc. and Bats BYX Exchange, Inc. (as
each is proposed to be re-named), simply as ``BZX'' and ``BYX'',
respectively. The Exchange believes that this is more consistent with
other references on the Fee Schedule, such as the general references to
``EDGX'', which refer to the Exchange's affiliate, Bats EDGX Exchange,
Inc. (as proposed to be re-named).
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\8\ The Exchange notes that the Exchange will continue to be
referred to as ``EDGA'' in certain areas of the Fee Schedule. These
areas of the Fee Schedule are: (i) The Fee Codes and Associated Fees
table; (ii) footnote 1 under Membership Fees; (iii) Bats Connect
pricing table; and (iv) Unicast Access--Order Entry.
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The Exchange also proposes to amend Article First of the
Certificate to change the name of the Exchange to Bats EDGA Exchange,
Inc. and make conforming changes throughout, including the title of the
Certificate. The Exchange proposes to amend the Bylaws to amend the
title to reflect that the Bylaws will be titled the ``FIFTH AMENDED AND
RESTATED BYLAWS OF BATS EDGA EXCHANGE, INC.'' The Exchange also
proposes to amend Article I, paragraph (f) and Article XI, Section 2 to
reflect the name changes.
The name change from EDGA Exchange, Inc. to Bats EDGA Exchange,
Inc. is a non-substantive change. No changes to the ownership or
structure of the Exchange or BATS Global Markets, Inc. have taken
place.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\9\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\10\ in particular, in that it is designed to
promote just and equitable principles of trade, 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 also believes that the proposed rule change is
consistent with Section 6(b)(1) of the Act \11\ in that it is
[[Page 12761]]
designed to continue to ensure that the Exchange is so organized and
has the capacity to carry out the purposes of Act and to comply, and
enforce compliance by its members with the provisions of the Act and
the rules and regulations thereunder, and rules of the Exchange. The
Exchange is proposing amendments to the Operative Documents to
effectuate its name change to Bats EDGA Exchange, Inc. and to reflect
the name changes of its affiliates. These changes are limited to
capitalization and ministerial name changes and to reflect similar
proposed rule changes to be submitted to the Commission by the
Exchange's affiliates. The Exchange believes that the changes will
protect investors and the public interest by eliminating confusion that
may exist because of differences between its corporate name and the new
naming conventions of the Parent and its subsidiaries, including the
Exchange.
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\9\ 15 U.S.C. 78f.
\10\ 15 U.S.C. 78f(b)(5).
\11\ 15 U.S.C. 78f(b)(1).
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B. Self-Regulatory Organization's Statement on Burden on Competition
Because the rule change proposes ministerial changes related to the
administration, and not the governance or operation, of the Exchange,
the Exchange does not believe that the proposed rule change will impose
any burden on competition not necessary or appropriate in furtherance
of the purposes of the Act.
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
Because it is concerned solely with the administration of the
Exchange, the foregoing proposed rule change has become effective
pursuant to Section 19(b)(3)(A)(iii) of the Act \12\ and Rule 19b-
4(f)(3) thereunder.\13\
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\12\ 15 U.S.C. 78s(b)(3)(A)(iii).
\13\ 17 CFR 240.19b-4(f)(3).
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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: (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 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-EDGA-2016-05 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-EDGA-2016-05. 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-EDGA-2016-05, and should be
submitted on or before March 31, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-05328 Filed 3-9-16; 8:45 am]
BILLING CODE 8011-01-P
