Securities and Exchange Commission October 5, 2016 – Federal Register Recent Federal Regulation Documents

Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing of a Proposed Rule Change Related to the Exchange's Equity Options Platform To Adopt a Price Improvement Auction, the Bats Auction Mechanism
Document Number: 2016-24010
Type: Notice
Date: 2016-10-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Initiating Member & Priority Quote interest fully satisfies Agency Order; all participants eligible for Priority Quote status. Assumptions:
Amendment to Securities Transaction Settlement Cycle
Document Number: 2016-23890
Type: Proposed Rule
Date: 2016-10-05
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission (``Commission'') proposes to amend Rule 15c6-1(a) under the Securities Exchange Act of 1934 (``Exchange Act'') to shorten the standard settlement cycle for most broker-dealer transactions from three business days after the trade date (``T+3'') to two business days after the trade date (``T+2''). The proposed amendment is designed to reduce a number of risks, including credit risk, market risk, and liquidity risk and, as a result, reduce systemic risk for U.S. market participants.