Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Period for the Exchange's Supplemental Competitive Liquidity Provider Program, 26591-26593 [2016-10270]
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Federal Register / Vol. 81, No. 85 / Tuesday, May 3, 2016 / Notices
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[FR Doc. 2016–10373 Filed 4–29–16; 11:15 am]
BILLING CODE 7590–01–P
OFFICE OF SCIENCE AND
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asabaliauskas on DSK3SPTVN1PROD with NOTICES
SUMMARY:
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18:53 May 02, 2016
Jkt 238001
Responses must be received by
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Many Federal agencies rely on the
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DATES:
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Executive Office of the President
comprised the FTAC–SMDIS. Together
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the_medicolegal_death_investigation_
system_draft_for_public_comment_
4_21.pdf) in advance of finalizing the
document for publication. The
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the following questions, as well as
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• Are there scientific and technical
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FTAC should be aware of and include
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MDI System, based on the scientific and
technical literature?
Ted Wackler,
Deputy Chief of Staff and Assistant Director.
[FR Doc. 2016–10308 Filed 5–2–16; 8:45 am]
BILLING CODE 3270–F6–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77721; File No. SR–
BatsBZX–2016–11]
Self-Regulatory Organizations; Bats
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Extend the
Pilot Period for the Exchange’s
Supplemental Competitive Liquidity
Provider Program
April 27, 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 April 22,
2016, Bats BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\03MYN1.SGM
03MYN1
26592
Federal Register / Vol. 81, No. 85 / Tuesday, May 3, 2016 / Notices
below, which Items have been prepared
by the Exchange. 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
extend the pilot period for the
Exchange’s Supplemental Competitive
Liquidity Provider Program (the
‘‘Program’’), which is currently set to
expire on April 28, 2016, for three
months, to expire on July 28, 2016.
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
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Background
On August 30, 2011, the Exchange
received approval of rules applicable to
the qualification, listing and delisting of
securities of issuers on the Exchange.3
More recently, the Exchange received
approval to operate a pilot program that
is designed to incentivize certain Market
Makers 4 registered with the Exchange
as ETP CLPs, as defined in
Interpretation and Policy .03 to Rule
11.8, to enhance liquidity on the
Exchange in certain ETPs 5 listed on the
Exchange and thereby qualify to receive
part of a daily rebate as part of the
3 See Securities Exchange Act Release No. 65225
(August 30, 2011), 76 FR 55148 (September 6, 2011)
(SR–BATS–2011–018).
4 As defined in BZX Rules, the term ‘‘Market
Maker’’ means a Member that acts as a market
maker pursuant to Chapter XI of BZX Rules.
5 ETP is defined in Interpretation and Policy
.03(b)(4) to Rule 11.8.
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18:53 May 02, 2016
Jkt 238001
Program under Interpretation and Policy
.03 to Rule 11.8.6
The Program was approved by the
Commission on a pilot basis running
one-year from the date of
implementation.7 The Commission
approved the Program on July 28, 2014.8
The Exchange implemented the Program
on July 28, 2014 and the pilot period for
the Program was originally scheduled to
end on July 28, 2015 until it was
extended to end on October 28, 2015,9
later extended to January 28, 2016,10
and, most recently, extended to April
28, 2016.11
Proposal To Extend the Operation of the
Program
The Exchange established the
Program in order to enhance liquidity
on the Exchange in certain ETPs listed
on the Exchange (and thereby enhance
the Exchange’s ability to compete as a
listing venue) by providing a
mechanism by which ETP CLPs
compete for part of a daily quoting
incentive on the basis of providing the
most aggressive quotes with the greatest
amount of size. Such competition has
the ability to reduce spreads, facilitate
the price discovery process, and reduce
costs for investors trading in such
securities, thereby promoting capital
formation and helping the Exchange to
compete as a listing venue. The
Exchange believes that extending the
pilot is appropriate because the
Exchange has prepared and is also
planning to submit a proposal to make
the Program permanent. As part of this
proposal, the Exchange has also
prepared a report analyzing the
Program. As such, the Exchange
believes that it is appropriate to extend
the current operation of the Program for
three months in order to provide enough
time for the Program to continue
operating while such proposal is under
consideration by the Commission.
Through this filing, the Exchange seeks
to extend the current pilot period of the
Program until July 28, 2016.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with the
6 See Securities Exchange Act Release No. 72692
(July 28, 2014), 79 FR 44908 (August 1, 2014) (SR–
BATS–2014–022) (‘‘CLP Approval Order’’).
7 See id at 44909.
8 Id.
9 See Securities Exchange Act Release No. 75518
(July 24, 2015), 80 FR 45566 (July 30, 2015 (SR–
BATS–2015–55).
10 See Securities Exchange Act Release No. 76293
(October 28, 2015), 80 FR 67808 (November 3, 2015)
(SR–BATS–2015–96).
11 See Securities Exchange Act Release No. 77033
(February 2, 2016), 81 FR 6558 (February 8, 2016)
(SR–BATS–2016–12).
PO 00000
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Sfmt 4703
requirements of the Act and the rules
and regulations thereunder that are
applicable to a national securities
exchange, and, in particular, with the
requirements of section 6(b) of the
Act.12 In particular, the Exchange
believes the proposed change furthers
the objectives of section 6(b)(5) of the
Act,13 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 facilitating transactions in securities,
and to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system. The Exchange believes that
extending the pilot period for the
Program is consistent with these
principles because the Program is
reasonably designed to enhance quote
competition, improve liquidity in
securities listed on the Exchange,
support the quality of price discovery,
promote market transparency, and
increase competition for listings and
trade executions, while reducing
spreads and transaction costs in such
securities. Maintaining and increasing
liquidity in Exchange-listed securities
will help raise investors’ confidence in
the fairness of the market and their
transactions. The extension of the pilot
period will allow Exchange to continue
to operate the Program while its
proposal to make the Program
permanent is under consideration by the
Commission.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change extends an
established pilot program for three
months, thus allowing the Program to
enhance competition in both the listings
market and in competition for market
makers. The Program will continue to
promote competition in the listings
market by providing issuers with a
vehicle for paying the Exchange
additional fees in exchange for
incentivizing tighter spreads and deeper
liquidity in listed securities and allow
the Exchange to continue to compete
with similar programs at Nasdaq Stock
12 15
13 15
E:\FR\FM\03MYN1.SGM
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
03MYN1
Federal Register / Vol. 81, No. 85 / Tuesday, May 3, 2016 / Notices
Market LLC 14 and NYSE Arca Equities,
Inc.15
The Exchange also believes that
extending the pilot program for an
additional three months will allow the
Program to continue to enhance
competition among market participants
by creating incentives for market makers
to compete to make better quality
markets. By continuing to require that
market makers both meet the quoting
requirements and also compete for the
daily financial incentives, the quality of
quotes on the Exchange will continue to
improve. This, in turn, will attract more
liquidity to the Exchange and further
improve the quality of trading in
exchange-listed securities participating
in the Program, which will also act to
bolster the Exchange’s listing business.
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 written
comments from Members or other
interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to section
19(b)(3)(A) of the Act 16 and paragraph
(f)(6) of Rule 19b–4 thereunder.17
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative before 30 days from
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),18 the
Commission may designate a shorter
time if such action is consistent with the
14 See Securities Exchange Act Release No. 69195
(March 20, 2013), 78 FR 18393 (March 26, 2013)
(SR–NASDAQ–2012–137).
15 See Securities Exchange Act Release No. 69335
(April 5, 2013), 78 FR 35340 (June 12, 2013) (SR–
NYSEARCA–2013–34).
16 15 U.S.C. 78s(b)(3)(A).
17 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
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. The Exchange has satisfied this
requirement.
18 17 CFR 240.19b–4(f)(6)(iii).
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18:53 May 02, 2016
Jkt 238001
protection of investors and the public
interest.
The Exchange has asked the
Commission to waive the 30-day
operative delay. The Exchange asserts
that waiver of the operative delay will
allow the Exchange to extend the
Program prior to its expiration on April
28, 2016, which will ensure that the
Program continues to operate
uninterrupted while the Exchange and
the Commission continue to analyze
data regarding the Program. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission hereby waives the 30-day
operative delay and designates the
proposed rule change to be operative
upon filing with the Commission.19
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the 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–
BatsBZX–2016–11 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–BatsBZX–2016–11. 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
19 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
PO 00000
Frm 00068
Fmt 4703
Sfmt 4703
26593
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–BatsBZX–
2016–11 and should be submitted on or
before May 24, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10270 Filed 5–2–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77726; File No. SR–FINRA–
2016–013]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Delay Implementation
of FINRA Rule 2242 (Debt Research
Analysts and Debt Research Reports)
April 27, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 20,
2016, Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I and
II below, which Items have been
prepared by FINRA. FINRA has
designated the proposed rule change as
constituting a ‘‘non-controversial’’ rule
change under paragraph (f)(6) of Rule
20 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\03MYN1.SGM
03MYN1
]]>Agencies
[Federal Register Volume 81, Number 85 (Tuesday, May 3, 2016)]
[Notices]
[Pages 26591-26593]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10270]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77721; File No. SR-BatsBZX-2016-11]
Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Extend
the Pilot Period for the Exchange's Supplemental Competitive Liquidity
Provider Program
April 27, 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 April 22, 2016, Bats BZX Exchange, Inc. (the ``Exchange'' or
``BZX'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II
[[Page 26592]]
below, which Items have been prepared by the Exchange. 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange filed a proposal to extend the pilot period for the
Exchange's Supplemental Competitive Liquidity Provider Program (the
``Program''), which is currently set to expire on April 28, 2016, for
three months, to expire on July 28, 2016.
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
Background
On August 30, 2011, the Exchange received approval of rules
applicable to the qualification, listing and delisting of securities of
issuers on the Exchange.\3\ More recently, the Exchange received
approval to operate a pilot program that is designed to incentivize
certain Market Makers \4\ registered with the Exchange as ETP CLPs, as
defined in Interpretation and Policy .03 to Rule 11.8, to enhance
liquidity on the Exchange in certain ETPs \5\ listed on the Exchange
and thereby qualify to receive part of a daily rebate as part of the
Program under Interpretation and Policy .03 to Rule 11.8.\6\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 65225 (August 30,
2011), 76 FR 55148 (September 6, 2011) (SR-BATS-2011-018).
\4\ As defined in BZX Rules, the term ``Market Maker'' means a
Member that acts as a market maker pursuant to Chapter XI of BZX
Rules.
\5\ ETP is defined in Interpretation and Policy .03(b)(4) to
Rule 11.8.
\6\ See Securities Exchange Act Release No. 72692 (July 28,
2014), 79 FR 44908 (August 1, 2014) (SR-BATS-2014-022) (``CLP
Approval Order'').
---------------------------------------------------------------------------
The Program was approved by the Commission on a pilot basis running
one-year from the date of implementation.\7\ The Commission approved
the Program on July 28, 2014.\8\ The Exchange implemented the Program
on July 28, 2014 and the pilot period for the Program was originally
scheduled to end on July 28, 2015 until it was extended to end on
October 28, 2015,\9\ later extended to January 28, 2016,\10\ and, most
recently, extended to April 28, 2016.\11\
---------------------------------------------------------------------------
\7\ See id at 44909.
\8\ Id.
\9\ See Securities Exchange Act Release No. 75518 (July 24,
2015), 80 FR 45566 (July 30, 2015 (SR-BATS-2015-55).
\10\ See Securities Exchange Act Release No. 76293 (October 28,
2015), 80 FR 67808 (November 3, 2015) (SR-BATS-2015-96).
\11\ See Securities Exchange Act Release No. 77033 (February 2,
2016), 81 FR 6558 (February 8, 2016) (SR-BATS-2016-12).
---------------------------------------------------------------------------
Proposal To Extend the Operation of the Program
The Exchange established the Program in order to enhance liquidity
on the Exchange in certain ETPs listed on the Exchange (and thereby
enhance the Exchange's ability to compete as a listing venue) by
providing a mechanism by which ETP CLPs compete for part of a daily
quoting incentive on the basis of providing the most aggressive quotes
with the greatest amount of size. Such competition has the ability to
reduce spreads, facilitate the price discovery process, and reduce
costs for investors trading in such securities, thereby promoting
capital formation and helping the Exchange to compete as a listing
venue. The Exchange believes that extending the pilot is appropriate
because the Exchange has prepared and is also planning to submit a
proposal to make the Program permanent. As part of this proposal, the
Exchange has also prepared a report analyzing the Program. As such, the
Exchange believes that it is appropriate to extend the current
operation of the Program for three months in order to provide enough
time for the Program to continue operating while such proposal is under
consideration by the Commission. Through this filing, the Exchange
seeks to extend the current pilot period of the Program until July 28,
2016.
2. Statutory Basis
The Exchange believes that its proposal is consistent with the
requirements of the Act and the rules and regulations thereunder that
are applicable to a national securities exchange, and, in particular,
with the requirements of section 6(b) of the Act.\12\ In particular,
the Exchange believes the proposed change furthers the objectives of
section 6(b)(5) of the Act,\13\ 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 facilitating transactions in securities, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system. The Exchange believes that
extending the pilot period for the Program is consistent with these
principles because the Program is reasonably designed to enhance quote
competition, improve liquidity in securities listed on the Exchange,
support the quality of price discovery, promote market transparency,
and increase competition for listings and trade executions, while
reducing spreads and transaction costs in such securities. Maintaining
and increasing liquidity in Exchange-listed securities will help raise
investors' confidence in the fairness of the market and their
transactions. The extension of the pilot period will allow Exchange to
continue to operate the Program while its proposal to make the Program
permanent is under consideration by the Commission.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78f(b).
\13\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change
extends an established pilot program for three months, thus allowing
the Program to enhance competition in both the listings market and in
competition for market makers. The Program will continue to promote
competition in the listings market by providing issuers with a vehicle
for paying the Exchange additional fees in exchange for incentivizing
tighter spreads and deeper liquidity in listed securities and allow the
Exchange to continue to compete with similar programs at Nasdaq Stock
[[Page 26593]]
Market LLC \14\ and NYSE Arca Equities, Inc.\15\
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\14\ See Securities Exchange Act Release No. 69195 (March 20,
2013), 78 FR 18393 (March 26, 2013) (SR-NASDAQ-2012-137).
\15\ See Securities Exchange Act Release No. 69335 (April 5,
2013), 78 FR 35340 (June 12, 2013) (SR-NYSEARCA-2013-34).
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The Exchange also believes that extending the pilot program for an
additional three months will allow the Program to continue to enhance
competition among market participants by creating incentives for market
makers to compete to make better quality markets. By continuing to
require that market makers both meet the quoting requirements and also
compete for the daily financial incentives, the quality of quotes on
the Exchange will continue to improve. This, in turn, will attract more
liquidity to the Exchange and further improve the quality of trading in
exchange-listed securities participating in the Program, which will
also act to bolster the Exchange's listing business.
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 written comments from Members or other interested parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to section 19(b)(3)(A) of the Act \16\ and paragraph
(f)(6) of Rule 19b-4 thereunder.\17\
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\16\ 15 U.S.C. 78s(b)(3)(A).
\17\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file 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.
The Exchange has satisfied this requirement.
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A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative before 30 days from the date of the filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\18\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest.
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\18\ 17 CFR 240.19b-4(f)(6)(iii).
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The Exchange has asked the Commission to waive the 30-day operative
delay. The Exchange asserts that waiver of the operative delay will
allow the Exchange to extend the Program prior to its expiration on
April 28, 2016, which will ensure that the Program continues to operate
uninterrupted while the Exchange and the Commission continue to analyze
data regarding the Program. The Commission believes that waiving the
30-day operative delay is consistent with the protection of investors
and the public interest. Therefore, the Commission hereby waives the
30-day operative delay and designates the proposed rule change to be
operative upon filing with the Commission.\19\
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\19\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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 necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the 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-BatsBZX-2016-11 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-BatsBZX-2016-11. 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-BatsBZX-2016-11 and should be
submitted on or before May 24, 2016.
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\20\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10270 Filed 5-2-16; 8:45 am]
BILLING CODE 8011-01-P
