Self-Regulatory Organizations; BATS Y-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, 12975-12977 [2016-05439]
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Federal Register / Vol. 81, No. 48 / Friday, March 11, 2016 / Notices
Commission a Request of the United
States Postal Service to Add Priority
Mail Express Contract 34 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2016–93,
CP2016–118.
Stanley F. Mires,
Attorney, Federal Compliance.
3642 and 3632(b)(3), on March 4, 2016,
it filed with the Postal Regulatory
Commission a Request of the United
States Postal Service to Add Priority
Mail Contract 194 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2016–91,
CP2016–116.
Stanley F. Mires,
Attorney, Federal Compliance.
[FR Doc. 2016–05514 Filed 3–10–16; 8:45 am]
BILLING CODE 7710–12–P
[FR Doc. 2016–05516 Filed 3–10–16; 8:45 am]
BILLING CODE 7710–12–P
POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement
POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement
Postal ServiceTM.
ACTION: Notice.
AGENCY:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Effective date: March 11, 2016.
FOR FURTHER INFORMATION CONTACT:
Elizabeth A. Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on March 4, 2016,
it filed with the Postal Regulatory
Commission a Request of the United
States Postal Service to Add Priority
Mail Contract 195 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2016–92,
CP2016–117.
SUMMARY:
Stanley F. Mires,
Attorney, Federal Compliance.
[FR Doc. 2016–05513 Filed 3–10–16; 8:45 am]
Postal Service.TM
ACTION: Notice.
AGENCY:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Effective date: March 11, 2016.
FOR FURTHER INFORMATION CONTACT:
Elizabeth A. Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on March 4, 2016,
it filed with the Postal Regulatory
Commission a Request of the United
States Postal Service to Add Priority
Mail Contract 193 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2016–90,
CP2016–115.
SUMMARY:
Stanley F. Mires,
Attorney, Federal Compliance.
BILLING CODE 7710–12–P
[FR Doc. 2016–05511 Filed 3–10–16; 8:45 am]
BILLING CODE 7710–12–P
POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement
SECURITIES AND EXCHANGE
COMMISSION
Postal ServiceTM.
ACTION: Notice.
AGENCY:
[Release No. 34–77308; File No. SR–BYX–
2016–07]
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Effective date: March 11, 2016.
FOR FURTHER INFORMATION CONTACT:
Elizabeth A. Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
SUMMARY:
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17:56 Mar 10, 2016
Jkt 238001
Self-Regulatory Organizations; BATS
Y-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
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934 (the
PO 00000
Frm 00118
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
26, 2016, Bats BYX Exchange, Inc.
f/k/a BATS Y-Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BYX’’) 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 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
BYX Exchange, Inc. to Bats BYX
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.
1 15
March 7, 2016.
Fmt 4703
Sfmt 4703
12975
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(3).
2 17
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12976
Federal Register / Vol. 81, No. 48 / Friday, March 11, 2016 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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 BATS YExchange, Inc. to Bats BYX Exchange,
Inc. throughout its rules and corporate
documents (collectively, with the other
legal name changes for the 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) Certificate of
Incorporation (‘‘Certificate’’); and (iv)
Third 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 11.1 (Hours of
Trading and Trading Days), Rule 11.8
(Obligations of Market Makers), Rule
11.9 (Orders and Modifiers), Rule 11.12
(Priority of Orders), Rule 11.13 (Order
Execution and Routing), Rule 11.14
(Trade Execution and Reporting), Rule
5 See Securities Exchange Act Release No. 77156
(February 17, 2016) (SR–BYX–2016–02).
6 The Exchange initially filed the proposed fee
[sic] change on February 19, 2016 (SR–BYX–2016–
06). On February 26, 2016, the Exchange withdrew
that filing and submitted this filing.
7 The Exchange’s affiliates are EDGA Exchange,
Inc., BATS Exchange, Inc. and EDGX Exchange, Inc.
The Exchange understands that proposed rule
changes are to be filed by each of its affiliates to
amend their names as follows: EDGA Exchange, Inc.
would be changed to Bats EDGA Exchange, Inc.,
BATS Exchange, Inc. would be amended to Bats
BZX Exchange, Inc., and EDGX Exchange, Inc.
would be amended to Bats EDGX Exchange, Inc.
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17:56 Mar 10, 2016
Jkt 238001
11.18 (Trading Halts Due to
Extraordinary Market Volatility), Rule
11.22 (Data Products), Rule 11.23
(Opening Process), Rule 11.24 (Retail
Price Improvement Program), Rule 11.26
(Usage of Data Feeds), Rule 13.8 (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 ‘‘BATS YExchange’’, ‘‘BATS Y-EXCHANGE’’ and
‘‘BATS Y-EXCHANGE, Inc.’’ are
proposed to be changed to ‘‘Bats BYX
Exchange, Inc.’’;
• All references to ‘‘BATS’’ are
proposed to be changed to ‘‘Bats’’;
• All references to ‘‘BATS Exchange,
Inc.’’ are proposed to be changed to
‘‘Bats BZX Exchange, Inc.’’;
• All references to ‘‘EDGX Exchange,
Inc.’’ are proposed to be changed to
‘‘Bats EDGX Exchange, Inc.’’;
• All references to ‘‘EDGA Exchange,
Inc.’’ are proposed to be changed to
‘‘Bats EDGA Exchange, Inc.’’
• All references to ‘‘BATS Book’’,
‘‘BATS market orders’’, ‘‘BATS Post
Only Orders’’, and ‘‘BATS Only
Orders’’, are proposed to be changed to
‘‘BYX Book’’, ‘‘BYX market orders’’,
‘‘BYX Post Only Orders’’, and ‘‘BYX
Only Orders’’, respectively.8
In addition to these changes, the
Exchange proposes to modify its Fee
Schedules to reflect the name change of
the Exchange to Bats BYX Exchange 9
and to change all references to ‘‘BATS’’
to instead refer to ‘‘Bats’’. The Exchange
also proposes on its Fee Schedule to
refer to its affiliate, Bats BZX Exchange,
Inc. (as proposed to be re-named),
simply as ‘‘BZX’’. The Exchange
believes that this is more consistent
with other references on the Fee
Schedule, such as the general references
to ‘‘EDGA’’, which refer to the
Exchange’s affiliate, Bats EDGA
8 The Exchange notes that ‘‘BATS’’ has previously
been used by the Exchange as a generic term to
describe various types of functionality and services
offerings. In other instances, the Exchange has
indeed used the acronym BYX to describe its
functionality and offerings. For example, Rule
11.22(k) is titled ‘‘BYX Book Viewer’’ and described
a market data product offered by the Exchange. In
addition, the Fee Schedule also includes BYX in the
title of the Exchange’s market data products. The
Exchange does not propose to amend the names of
these products and, as noted above, proposes to
convert the types of functionality referring to
‘‘BATS’’ to instead refer to ‘‘BYX’’.
9 The Exchange notes that the Exchange will
continue to be referred to as ‘‘BYX’’ in certain areas
of the Fee Schedules. These areas of the Fee
Schedules are: (i) The Fee Codes and Associated
Fees table; (ii) footnote 6; (ii) footnote 7; (iii) the
Bats Connect pricing table; and (iv) in the Unicast
Access—Order Entry section of its Fee Schedule.
PO 00000
Frm 00119
Fmt 4703
Sfmt 4703
Exchange, Inc. (as proposed to be renamed).
The Exchange also proposes to amend
Article First of the Certificate to change
the name of the Exchange to Bats BYX
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 ‘‘FOURTH AMENDED AND
RESTATED BYLAWS OF BATS BYX
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 BATS YExchange, Inc. to Bats BYX 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,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 BYX
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.
10 15
U.S.C. 78f.
U.S.C. 78f(b)(5).
12 15 U.S.C. 78f(b)(1).
11 15
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Federal Register / Vol. 81, No. 48 / Friday, March 11, 2016 / 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.
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.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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:
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
SECURITIES AND EXCHANGE
COMMISSION
All submissions should refer to File
Number SR–BYX–2016–07. 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–BYX–
2016–07, and should be submitted on or
before April 1, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–05439 Filed 3–10–16; 8:45 am]
BILLING CODE 8011–01–P
[Release No. 34–77305; File No. SR–NYSE–
2016–18]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing of Proposed Rule Change
Amending Rule 123C To Provide for
How the Exchange Would Determine
an Official Closing Price if the
Exchange is Unable To Conduct a
Closing Transaction
March 7, 2016.
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 February
25, 2016, New York Stock Exchange
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 123C to provide for how the
Exchange would determine an Official
Closing Price if the Exchange is unable
to conduct a closing transaction. 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.
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–
BYX–2016–07 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
1 15
U.S.C. 78s(b)(3)(A)(iii).
14 17 CFR 240.19b–4(f)(3).
13 15
VerDate Sep<11>2014
17:56 Mar 10, 2016
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
15 17
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12977
PO 00000
CFR 200.30–3(a)(12).
Frm 00120
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E:\FR\FM\11MRN1.SGM
11MRN1
]]>Agencies
[Federal Register Volume 81, Number 48 (Friday, March 11, 2016)]
[Notices]
[Pages 12975-12977]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-05439]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77308; File No. SR-BYX-2016-07]
Self-Regulatory Organizations; BATS Y-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 7, 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, Bats BYX Exchange, Inc. f/k/a BATS Y-
Exchange, Inc. (the ``Exchange'' or ``BYX'') 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 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
BYX Exchange, Inc. to Bats BYX 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.
[[Page 12976]]
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 BATS Y-
Exchange, Inc. to Bats BYX Exchange, Inc. throughout its rules and
corporate documents (collectively, with the other legal name changes
for the 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) Certificate of Incorporation
(``Certificate''); and (iv) Third 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. 77156 (February 17,
2016) (SR-BYX-2016-02).
\6\ The Exchange initially filed the proposed fee [sic] change
on February 19, 2016 (SR-BYX-2016-06). 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 11.1 (Hours of Trading and
Trading Days), Rule 11.8 (Obligations of Market Makers), Rule 11.9
(Orders and Modifiers), Rule 11.12 (Priority of Orders), Rule 11.13
(Order Execution and Routing), Rule 11.14 (Trade Execution and
Reporting), Rule 11.18 (Trading Halts Due to Extraordinary Market
Volatility), Rule 11.22 (Data Products), Rule 11.23 (Opening Process),
Rule 11.24 (Retail Price Improvement Program), Rule 11.26 (Usage of
Data Feeds), Rule 13.8 (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 EDGA Exchange, Inc., BATS
Exchange, Inc. and EDGX Exchange, Inc. The Exchange understands that
proposed rule changes are to be filed by each of its affiliates to
amend their names as follows: EDGA Exchange, Inc. would be changed
to Bats EDGA Exchange, Inc., BATS Exchange, Inc. would be amended to
Bats BZX Exchange, Inc., and EDGX Exchange, Inc. would be amended to
Bats EDGX Exchange, Inc.
---------------------------------------------------------------------------
All references to ``BATS Y-Exchange'', ``BATS Y-EXCHANGE''
and ``BATS Y-EXCHANGE, Inc.'' are proposed to be changed to ``Bats BYX
Exchange, Inc.'';
All references to ``BATS'' are proposed to be changed to
``Bats'';
All references to ``BATS Exchange, Inc.'' are proposed to
be changed to ``Bats BZX Exchange, Inc.'';
All references to ``EDGX Exchange, Inc.'' are proposed to
be changed to ``Bats EDGX Exchange, Inc.'';
All references to ``EDGA Exchange, Inc.'' are proposed to
be changed to ``Bats EDGA Exchange, Inc.''
All references to ``BATS Book'', ``BATS market orders'',
``BATS Post Only Orders'', and ``BATS Only Orders'', are proposed to be
changed to ``BYX Book'', ``BYX market orders'', ``BYX Post Only
Orders'', and ``BYX Only Orders'', respectively.\8\
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\8\ The Exchange notes that ``BATS'' has previously been used by
the Exchange as a generic term to describe various types of
functionality and services offerings. In other instances, the
Exchange has indeed used the acronym BYX to describe its
functionality and offerings. For example, Rule 11.22(k) is titled
``BYX Book Viewer'' and described a market data product offered by
the Exchange. In addition, the Fee Schedule also includes BYX in the
title of the Exchange's market data products. The Exchange does not
propose to amend the names of these products and, as noted above,
proposes to convert the types of functionality referring to ``BATS''
to instead refer to ``BYX''.
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In addition to these changes, the Exchange proposes to modify its
Fee Schedules to reflect the name change of the Exchange to Bats BYX
Exchange \9\ and to change all references to ``BATS'' to instead refer
to ``Bats''. The Exchange also proposes on its Fee Schedule to refer to
its affiliate, Bats BZX Exchange, Inc. (as proposed to be re-named),
simply as ``BZX''. The Exchange believes that this is more consistent
with other references on the Fee Schedule, such as the general
references to ``EDGA'', which refer to the Exchange's affiliate, Bats
EDGA Exchange, Inc. (as proposed to be re-named).
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\9\ The Exchange notes that the Exchange will continue to be
referred to as ``BYX'' in certain areas of the Fee Schedules. These
areas of the Fee Schedules are: (i) The Fee Codes and Associated
Fees table; (ii) footnote 6; (ii) footnote 7; (iii) the Bats Connect
pricing table; and (iv) in the Unicast Access--Order Entry section
of its Fee Schedule.
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The Exchange also proposes to amend Article First of the
Certificate to change the name of the Exchange to Bats BYX 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 ``FOURTH AMENDED
AND RESTATED BYLAWS OF BATS BYX 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 BATS Y-Exchange, Inc. to Bats BYX 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,\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 BYX 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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\10\ 15 U.S.C. 78f.
\11\ 15 U.S.C. 78f(b)(5).
\12\ 15 U.S.C. 78f(b)(1).
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[[Page 12977]]
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 \13\ and Rule 19b-
4(f)(3) thereunder.\14\
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\13\ 15 U.S.C. 78s(b)(3)(A)(iii).
\14\ 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-BYX-2016-07 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-BYX-2016-07. 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-BYX-2016-07, and should be
submitted on or before April 1, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-05439 Filed 3-10-16; 8:45 am]
BILLING CODE 8011-01-P
