80 FR 28335 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Change the Name of “ConnectEdge” Product Offering Under Rule 13.9 to “BATS Connect”

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 95 (May 18, 2015)

Page Range		28335-28336
FR Document		2015-11876
Federal Register, Volume 80 Issue 95 (Monday, May 18, 2015)
[Federal Register Volume 80, Number 95 (Monday, May 18, 2015)]
[Notices]
[Pages 28335-28336]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-11876]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74935; File No. SR-EDGX-2015-19)


Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Change 
the Name of ``ConnectEdge'' Product Offering Under Rule 13.9 to ``BATS 
Connect''

May 12, 2015.
    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 28, 2015, EDGX Exchange, Inc. (the ``Exchange'' or 
``EDGX'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I and 
II below, which Items have been prepared by the Exchange. The Exchange 
has designated this proposal as a ``non-controversial'' proposed rule 
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6)(iii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is proposing to change the name of ``ConnectEdge'' 
under Rule 13.9 to ``BATS Connect''.
    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
    In early 2014, the Exchange and its affiliate, EDGA Exchange, Inc. 
(``EDGA''), received approval to effect a merger (the ``Merger'') of 
the Exchange's parent company, Direct Edge Holdings LLC, with BATS 
Global Markets, Inc., the parent of BZX and BYX (together with BZX, 
EDGA, and EDGX, the ``BGM Affiliated Exchanges'').\5\ The Exchange 
proposes to change the name of ``ConnectEdge'' under Rule 13.9 to 
``BATS Connect'' to more closely align with the Exchange's parent 
company, BATS Global Markets, Inc.
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    \5\ See Securities Exchange Act Release No. 71449 (January 30, 
2014), 79 FR 6961 (February 5, 2014) (SR-EDGX-2013-043; SR-EDGA-
2013-034).
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    ConnectEdge is a communication and routing service that provides 
Members an additional means to receive market data from and route 
orders to any destination connected to the Exchange's network. 
ConnectEdge does not affect trade executions and would not report 
trades to the relevant Securities Information Processor. The servers of 
the Member need not be located in the same facilities as the Exchange 
in order to subscribe to ConnectEdge. Members may also seek to utilize 
ConnectEdge in the event of a market disruption where other alternative 
connection methods become unavailable.\6\ The Exchange does not propose 
to amend the content or services available via the ConnectEdge 
offering. The proposal only seeks to change the name of ``ConnectEdge'' 
under Rule 13.9 to ``BATS Connect''.
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    \6\ This service is an alternative to a service that the 
Exchange already provides to its Members -- current order-sending 
Members route orders through access provided by the Exchange to the 
Exchange that either check the Exchange for available liquidity and 
then route to other destinations or, in certain circumstances, 
bypass the Exchange and route to other destinations. See Exchange 
Rule 11.11(g) (setting forth routing options whereby Members may 
select their orders be routed to other market centers). See also 
Securities Exchange Act Release No. 73780 (December 8, 2014), 79 FR 
73942 (December 12, 2015) (SR-EDGX-2014-28) (proposing to amend 
Exchange Rule 13.9 for immediate effectiveness relating to a 
communication and routing service known as ConnectEdge).
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    Lastly, the Exchange proposes to correct a typographical error 
within Rule 13.9 by inserting the word ``the'' before ``Exchanges 
network.''
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act \7\ in general, and furthers the objectives of Section 
6(b)(5) of the Act \8\ in particular, in that it is designed to promote 
just and equitable principles of trade, to foster cooperation and 
coordination with persons engaged in facilitating transactions in 
securities, 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 does not 
propose to amend the content or services available via the renamed BATS 
Connect offering. It simply proposes to change the name of 
``ConnectEdge'' to ``BATS Connect'' under Rule 13.9 and to correct a 
typographical error. Therefore, the Exchange believes the proposed rule 
change is consistent with Section 6(b)(5) of the Act \9\ because the 
new name will avoid investor confusion by more closely aligning the 
BATS Connect product with the Exchange's parent company, BATS Global 
Markets, Inc.
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    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
    \9\ Id.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The proposed rule change will not affect competition as it is not 
designed to amend the content or services available via the renamed 
BATS Connect offering. It is simply intended to correct a typographical 
error and more closely align the renamed BATS Connect product with the 
Exchange's parent company, BATS Global Markets, Inc.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received from Members, Participants, or Others

    The Exchange has neither solicited nor received written comments on 
the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act\10\ and Rule

[[Page 28336]]

19b-4(f)(6) thereunder.\11\ Because the 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, the proposed rule 
change has become effective pursuant to Section 19(b)(3)(A) of the Act 
and Rule 19b-4(f)(6) thereunder.\12\
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    \10\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \11\ 17 CFR 240.19b-4(f)(6).
    \12\ In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to 
give the Commission written notice of the Exchange's intent to file 
the proposed rule change, along with a brief description and text of 
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 for 30 days after the date of filing. However, 
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter 
time if such action is consistent with the protection of investors and 
the public interest. The Exchange has asked the Commission to waive the 
30-day operative delay so that the proposal may become operative 
immediately upon filing. Waiver of the 30-day operative delay would 
permit the Exchange to change the name of ConnectEdge to BATS Connect 
prior to the inclusion of the product offering on the Exchange's fee 
schedule effective May 1, 2015. Based on the foregoing, the Commission 
believes that waiving the 30-day operative delay is consistent with the 
protection of investors and the public interest.\13\ The Commission 
hereby grants the Exchange's request and designates the proposal 
operative upon filing.
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    \13\ For purposes only of waiving the 30-day operative delay, 
the Commission has also 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. 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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-EDGX-2015-19 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-2015-19. 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 (http://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-EDGX-2015-19 and should be 
submitted on or before June 8, 2015.

    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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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-11876 Filed 5-15-15; 8:45 am]
 BILLING CODE 8011-01-P
28336 Federal Register / Vol. 80, No. 95 / Monday, May 18, 2015 / Notices

19b–4(f)(6) thereunder.11 Because the arguments concerning the foregoing, SMALL BUSINESS ADMINISTRATION
proposed rule change does not: (i) including whether the proposed rule
Significantly affect the protection of change is consistent with the Act. Revocation of License of Small
investors or the public interest; (ii) Comments may be submitted by any of Business Investment Company
impose any significant burden on the following methods:
Pursuant to the authority granted to
competition; and (iii) become operative
Electronic Comments the United States Small Business
for 30 days from the date on which it
Administration by the Final Order of the
was filed, or such shorter time as the • Use the Commission’s Internet United States District Court of Oregon,
Commission may designate, the comment form (http://www.sec.gov/ Portland Division, entered October 15,
proposed rule change has become rules/sro.shtml); or 2014, the United States Small Business
effective pursuant to Section 19(b)(3)(A) • Send an email to rule-comments@ Administration hereby revokes the
of the Act and Rule 19b–4(f)(6) sec.gov. Please include File Number SR– license of Smart Forest Ventures I. L.P.,
thereunder.12 EDGX–2015–19 on the subject line. a Delaware Limited Partnership, to
A proposed rule change filed under
Paper Comments function as a small business investment
Rule 19b–4(f)(6) normally does not
company under the Small Business
become operative for 30 days after the • Send paper comments in triplicate Investment Company License No.
date of filing. However, Rule 19b– to Secretary, Securities and Exchange 10700195 issued to Smart Forest
4(f)(6)(iii) permits the Commission to Commission, 100 F Street NE., Ventures I, L.P., on January 19, 2001,
designate a shorter time if such action Washington, DC 20549–1090. and said license is hereby declared null
is consistent with the protection of
All submissions should refer to File and void as of October 15, 2014.
investors and the public interest. The
Exchange has asked the Commission to Number SR–EDGX–2015–19. This file United States Small Business
waive the 30-day operative delay so that number should be included on the Administration.
the proposal may become operative subject line if email is used. To help the Dated: May 8, 2015.
immediately upon filing. Waiver of the Commission process and review your Javier Saade,
30-day operative delay would permit comments more efficiently, please use Acting Associate Administrator for
the Exchange to change the name of only one method. The Commission will Investment.
ConnectEdge to BATS Connect prior to post all comments on the Commission’s [FR Doc. 2015–11887 Filed 5–15–15; 8:45 am]
the inclusion of the product offering on Internet Web site (http://www.sec.gov/ BILLING CODE P
the Exchange’s fee schedule effective rules/sro.shtml). Copies of the
May 1, 2015. Based on the foregoing, the submission, all subsequent
Commission believes that waiving the amendments, all written statements SMALL BUSINESS ADMINISTRATION
30-day operative delay is consistent with respect to the proposed rule
[Disaster Declaration #14306 and #14307]
with the protection of investors and the change that are filed with the
public interest.13 The Commission Commission, and all written MARYLAND Disaster # MD–00028
hereby grants the Exchange’s request communications relating to the
and designates the proposal operative proposed rule change between the AGENCY: U.S. Small Business
upon filing. Commission and any person, other than Administration.
At any time within 60 days of the those that may be withheld from the ACTION: Notice.
filing of the proposed rule change, the public in accordance with the
provisions of 5 U.S.C. 552, will be SUMMARY: This is a notice of an
Commission summarily may
available for Web site viewing and Administrative declaration of a disaster
temporarily suspend such rule change if
printing in the Commission’s Public for the State of Maryland dated 05/11/
it appears to the Commission that such
Reference Room, 100 F Street NE., 2015.
action is necessary or appropriate in the
Washington, DC 20549 on official Incident: Civil Disorder.
public interest, for the protection of Incident Period: 04/25/2015 through
investors, or otherwise in furtherance of business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the 05/03/2015.
the purposes of the Act. If the
Commission takes such action, the filing also will be available for EFFECTIVE DATE: 05/11/2015.
Commission shall institute proceedings inspection and copying at the principal Physical Loan Application Deadline
to determine whether the proposed rule office of the Exchange. All comments Date: 07/10/2015.
should be approved or disapproved. received will be posted without change; Economic Injury (EIDL) Loan
the Commission does not edit personal Application Deadline Date: 02/11/2016.
IV. Solicitation of Comments identifying information from ADDRESSES: Submit completed loan
Interested persons are invited to submissions. You should submit only applications to: U.S. Small Business
submit written data, views, and information that you wish to make Administration, Processing and
available publicly. All submissions Disbursement Center, 14925 Kingsport
11 17 CFR 240.19b–4(f)(6). should refer to File Number SR–EDGX– Road, Fort Worth, TX 76155.
12 In addition, Rule 19b–4(f)(6)(iii) requires the 2015–19 and should be submitted on or FOR FURTHER INFORMATION CONTACT: A.
Exchange to give the Commission written notice of before June 8, 2015. Escobar, Office of Disaster Assistance,
the Exchange’s intent to file the proposed rule
change, along with a brief description and text of For the Commission, by the Division of U.S. Small Business Administration,
asabaliauskas on DSK5VPTVN1PROD with NOTICES

the proposed rule change, at least five business days Trading and Markets, pursuant to delegated 409 3rd Street SW., Suite 6050,
prior to the date of filing of the proposed rule authority.14 Washington, DC 20416.
change, or such shorter time as designated by the Robert W. Errett,
Commission. The Exchange has satisfied this SUPPLEMENTARY INFORMATION: Notice is
requirement. Deputy Secretary. hereby given that as a result of the
13 For purposes only of waiving the 30-day [FR Doc. 2015–11876 Filed 5–15–15; 8:45 am] Administrator’s disaster declaration,
operative delay, the Commission has also
considered the proposed rule’s impact on
BILLING CODE 8011–01–P applications for disaster loans may be
efficiency, competition, and capital formation. See filed at the address listed above or other
15 U.S.C. 78c(f). 14 17 CFR 200.30–3(a)(12). locally announced locations.

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Document Created: 2015-12-16 07:38:46
Document Modified: 2015-12-16 07:38:46
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		80 FR 28335