80 FR 33001 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Rule 13.8 Describing a Communication and Routing Service Known as BATS Connect

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 111 (June 10, 2015)

Page Range		33001-33003
FR Document		2015-14134

Federal Register, Volume 80 Issue 111 (Wednesday, June 10, 2015)

[Federal Register Volume 80, Number 111 (Wednesday, June 10, 2015)]
[Notices]
[Pages 33001-33003]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-14134]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75107; File No. SR-BATS-2015-40]

Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt
Rule 13.8 Describing a Communication and Routing Service Known as BATS
Connect

June 4, 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 May 27, 2015, BATS Exchange, Inc. (the ``Exchange'' or
``BATS'') 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 adopt Rule 13.8 to describe a
communication and routing service known as BATS Connect. The proposed
rule change is based on an identical service offered by the Exchange's
affiliate, EDGX Exchange, Inc. (``EDGX'').\5\
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\5\ See EDGX Rule 13.9. See also Securities Exchange Act Release
Nos. 73780 (December 8, 2014), 79 FR 73942 (December 12, 2014) (SR-
EDGX-2014-28); and 74935 (May 12, 2015), 80 FR 28335 (May 18, 2015)
(SR-EDGX-2015-19).
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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

[[Page 33002]]

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
The Exchange proposes to adopt Rule 13.8 to describe a
communication and routing service known as BATS Connect. The Exchange
proposes to offer BATS Connect on a voluntary basis in a capacity
similar to a vendor. BATS Connect would operate in the same fashion as
an identical service, also called BATS Connect, offered by the
Exchange's affiliate, EDGX.\6\ BATS Connect is a communication service
that provides Members \7\ an additional means to receive market data
from and route orders to any destination connected to Exchange's
network. BATS Connect does not provide any advantage to subscribers for
connecting to the Exchange's affiliates \8\ as compared to other method
of connectivity available to subscribers. The servers of the Member
need not be located in the same facilities as the Exchange in order to
subscribe to BATS Connect. Members may also seek to utilize BATS
Connect in the event of a market disruption where other alternative
connection methods become unavailable.
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\6\ See supra note 5.
\7\ The term ``Member'' is defined as ``any registered broker or
dealer, or any person associated with a registered broker or dealer,
that has been admitted to membership in the Exchange. A Member will
have the status of a ``member'' of the Exchange as that term is
defined in Section 3(a)(3) of the Act.'' See Exchange Rule 1.5(n).
\8\ The Exchange's affiliated exchanges are EDGX, EDGA Exchange,
Inc., and BATS Y-Exchange, Inc. The Exchange understands that its
affiliated Exchange's intend to file identical proposed rule changes
to adopt the BATS Connect service with the Commission.
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Specifically, this service would allow Members to route orders to
other exchanges and market centers that are connected to the Exchange's
network. This communications or routing service would not effect trade
executions and would not report trades to the relevant Securities
Information Processor. An order sent via the service does not pass
through the Exchange's matching engine before going to a market center
outside of the Exchange (i.e., a participant could choose to route an
order directly to any market center on the Exchange's network). A
participant would be responsible for identifying the appropriate
destination for any orders sent through the service and for ensuring
that it had authority to access the selected destination; the Exchange
would merely provide the connectivity by which orders (and associated
messages) could be routed by a participant to a destination and from
the destination back to the participant.\9\
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\9\ 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 11.13(b)(3) (setting forth routing options whereby Members may
select their orders be routed to other market centers).
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The Exchange will charge a monthly connectivity fee to Members
utilizing BATS Connect to route orders to other exchanges and broker-
dealers that are connected to the Exchange's network. BATS Connect
would also allow participants to receive market data feeds from the
exchanges connected to the Exchange's network. The Exchange will file a
separate proposed rule change with the Commission regarding the
connectivity fees for order entry and market data to be charged for the
BATS Connect service.\10\
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\10\ The Exchange understands that its affiliated exchanges
intend to file identical proposed rule changes to adopt fees for the
BATS Connect service with the Commission.
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2. Statutory Basis
The Exchange believes that its proposal is consistent with the
requirements of section 6(b) of the Act,\11\ in general, and section
6(b)(5) of the Act,\12\ in particular, in that it promotes just and
equitable principles of trade, removes impediments to, and perfect the
mechanism of, a free and open market and a national market system, and,
in general, protects investors and the public interest. Specifically,
the proposal is consistent with section 6(b)(5) of the Act,\13\ in that
it provides Members an alternative means to receive market data from
and route orders to any destination connected to the Exchange's
network, thereby removing impediments to and perfecting the mechanism
of a free and open market and a national market system, and, in
general, protecting investors and the public interest. In addition,
BATS Connect removes impediments to and perfects the mechanism of a
free and open market and a national market system because, in the event
of a market disruption, Members would be able to utilize BATS Connect
to connect to other market centers where other alternative connection
methods become unavailable. BATS Connect would operate in the same
fashion as an identical service, also called BATS Connect, offered by
the Exchange's affiliate, EDGX.\14\ The proposed rule change is also
similar to a communication and routing service implemented by the
Chicago Stock Exchange, Inc. (``CHX'').\15\ The proposed rule change
will also not permit unfair discrimination among customers, brokers, or
dealers because BATS Connect will be available to all of the Exchange's
customers on an equivalent basis regardless of whether the servers of
the Member are located in the same facilities as the Exchange.
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\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
\13\ Id.
\14\ See supra note 5.
\15\ See Securities Exchange Act Release No. 54846 (November 30,
2006), 71 FR 71003 (December 7, 2006) (SR-CHX-2006-34) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Regarding
the Implementation of a Communication and Routing Service).
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(B) Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. To the contrary,
the Exchange believes that the proposal will promote competition by the
Exchange offering a service similar to those offered by the CHX and
NYSE.\16\ Thus, the Exchange believes this proposed rule change is
necessary to permit fair competition among national securities
exchanges. In addition, the proposed rule change is designed to provide
Members with an alternative means to access other market centers if
they chose or in the event of a market disruption where other
alternative connection methods become unavailable. Therefore, the
Exchange does not believe the proposed rule change will have any effect
on competition.
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\16\ See NYSE's SFTI Americas Product and Service List available
at http://www.nyxdata.com/docs/connectivity. See supra note 15.
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(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.

[[Page 33003]]

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

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.\17\
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\17\ 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 pursuant to Rule 19b-4(f)(6) under the
Act normally does not become operative for 30 days after the date of
its 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 provide Members with an
alternative means to access other market centers, particularly in the
event of a market disruption. In addition, the Exchange represents that
BATS Connect does not provide any advantage to subscribers for
connecting to the Exchange's affiliates as compared to other methods of
connectivity available to subscribers.\18\ Based on the foregoing, the
Commission believes the waiver of the operative delay is consistent
with the protection of investors and the public interest.\19\ The
Commission hereby grants the waiver and designates the proposal
operative upon filing.
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\18\ See supra note 8.
\19\ 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 rule-comments@sec.gov. Please include
File Number SR-BATS-2015-40 on the subject line.

Paper Comments

Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-BATS-2015-40. 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 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 Number SR-BATS-2015-40 and should be
submitted on or before July 1, 2015.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
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\20\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-14134 Filed 6-9-15; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 111 / Wednesday, June 10, 2015 / Notices 33001

submissions. You should submit only disapprove the proposed rule change.6 SECURITIES AND EXCHANGE
information that you wish to make On May 13, 2015, the Commission COMMISSION
available publicly. All submissions received a letter from the Exchange
[Release No. 34–75107; File No. SR–BATS–
should refer to File Number SR–C2– responding to the Order Instituting 2015–40]
2015–014 and should be submitted on Proceedings.7 The Commission received
or before July 1, 2015. one other comment letter on the Self-Regulatory Organizations; BATS
For the Commission, by the Division of proposed rule change.8 Exchange, Inc.; Notice of Filing and
Trading and Markets, pursuant to delegated Section 19(b)(2) of the Act provides Immediate Effectiveness of a Proposed
authority.23 that proceedings to determine whether Rule Change To Adopt Rule 13.8
Robert W. Errett, to disapprove a proposed rule change Describing a Communication and
Deputy Secretary. must be concluded within 180 days of Routing Service Known as BATS
Connect
[FR Doc. 2015–14133 Filed 6–9–15; 8:45 am] the date of publication of notice of the
BILLING CODE 8011–01–P filing of the proposed rule change.9 The June 4, 2015.
time for conclusion of the proceedings Pursuant to section 19(b)(1) of the
may be extended for up to 60 days if the Securities Exchange Act of 1934 (the
SECURITIES AND EXCHANGE Commission determines that a longer ‘‘Act’’),1 and Rule 19b–4 thereunder,2
COMMISSION period is appropriate and publishes the notice is hereby given that on May 27,
reasons for such determination.10 The 2015, BATS Exchange, Inc. (the
[Release No. 34–75104; File No. SR–ISE– 180th day for this filing is June 8, 2015. ‘‘Exchange’’ or ‘‘BATS’’) filed with the
2014–24] Securities and Exchange Commission
The Commission is extending the
(‘‘Commission’’) the proposed rule
time period for Commission action on
Self-Regulatory Organizations; change as described in Items I and II
the proposed rule change. The
International Securities Exchange, below, which Items have been prepared
Commission finds that it is appropriate by the Exchange. The Exchange has
LLC; Notice of Designation of Longer
Period for Commission Action on to designate a longer period within designated this proposal as a ‘‘non-
Proceedings To Determine Whether To which to take action on the proposed controversial’’ proposed rule change
Approve or Disapprove a Proposed rule change so that it has sufficient time pursuant to section 19(b)(3)(A) of the
Rule Change To Modify the Opening to consider the comment letters and take Act 3 and Rule 19b–4(f)(6)(iii)
Process action on the Exchange’s proposed rule thereunder,4 which renders it effective
change. upon filing with the Commission. The
June 4, 2015. Commission is publishing this notice to
Accordingly, pursuant to section
On November 19, 2014, International 19(b)(2)(B)(ii)(II) of the Act 11 and for the solicit comments on the proposed rule
Securities Exchange, LLC (‘‘Exchange’’) reasons stated above, the Commission change from interested persons.
filed with the Securities and Exchange designates August 7, 2015, as the date I. Self-Regulatory Organization’s
Commission (‘‘Commission’’), pursuant by which the Commission should either Statement of the Terms of Substance of
to section 19(b)(1) of the Securities approve or disapprove the proposed the Proposed Rule Change
Exchange Act of 1934 (‘‘Act’’) 1 and Rule rule change(File No. SR–ISE–2014–24).
19b–4 thereunder,2 a proposed rule The Exchange is proposing to adopt
change to modify the manner in which For the Commission, by the Division of Rule 13.8 to describe a communication
the Exchange’s trading system opens Trading and Markets, pursuant to delegated and routing service known as BATS
authority.12 Connect. The proposed rule change is
trading at the beginning of the day and
after trading halts and to codify certain Robert W. Errett, based on an identical service offered by
existing functionality within the trading Deputy Secretary. the Exchange’s affiliate, EDGX
system regarding opening and reopening [FR Doc. 2015–14131 Filed 6–9–15; 8:45 am]
Exchange, Inc. (‘‘EDGX’’).5
of options classes traded on the The text of the proposed rule change
BILLING CODE 8011–01–P
Exchange. The proposed rule change is available at the Exchange’s Web site
was published for comment in the at www.batstrading.com, at the
Federal Register on December 10, principal office of the Exchange, and at
2014.3 On January 23, 2015, the the Commission’s Public Reference
Commission extended the time period Room.
within which to approve the proposed II. Self-Regulatory Organization’s
rule change, disapprove the proposed Statement of the Purpose of, and
rule change, or institute proceedings to Statutory Basis for, the Proposed Rule
determine whether to disapprove the Change
proposed rule change, to March 10, 6 See Securities Exchange Act Release No. 74465
In its filing with the Commission, the
2015.4 On March 10, 2015, the (March 10, 2015), 80 FR 13660 (March 16, 2015)
Exchange included statements
Commission instituted proceedings (‘‘Order Instituting Proceedings’’).
concerning the purpose of and basis for
under section 19(b)(2)(B) of the Act 5 to 7 See Letter to Brent J. Fields, Secretary,
the proposed rule change and discussed
determine whether to approve or Commission, from Mike Simon, Secretary and
asabaliauskas on DSK5VPTVN1PROD with NOTICES

General Counsel, dated May 13, 2015 (‘‘ISE Letter’’).
1 15 U.S.C. 78s(b)(1).
8 See Letter to Brent J. Fields, Secretary,
23 17 CFR 200.30–3(a)(12). 2 17
Commission, from Benjamin Londergan, Head of CFR 240.19b–4.
1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78s(b)(3)(A).
2 17 CFR 240.19b–4.
Options Trading and Technology, Convergex
4 17 CFR 240.19b–4(f)(6)(iii).
3 See Securities Exchange Act Release No. 73736
Execution Solutions LLC, dated June 1, 2015.
5 See EDGX Rule 13.9. See also Securities
9 15 U.S.C. 78s(b)(2)(B)(ii)(I).
(December 4, 2014), 79 FR 73354. Exchange Act Release Nos. 73780 (December 8,
10 15 U.S.C. 78s(b)(2)(B)(ii)(II).
4 See Securities Exchange Act Release No. 74126
2014), 79 FR 73942 (December 12, 2014) (SR–
11 15 U.S.C. 78s(b)(2)(B)(ii)(II).
(January 23, 2015), 80 FR 4953 (January 29, 2015). EDGX–2014–28); and 74935 (May 12, 2015), 80 FR
5 15 U.S.C. 78s(b)(2)(B). 12 17 CFR 200.30–3(a)(57). 28335 (May 18, 2015) (SR–EDGX–2015–19).

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Federal Register / Vol. 80, No. 111 / Wednesday, June 10, 2015 / Notices 33003

III. Date of Effectiveness of the Commission shall institute proceedings For the Commission, by the Division of
Proposed Rule Change and Timing for to determine whether the proposed rule Trading and Markets, pursuant to delegated
Commission Action should be approved or disapproved. authority.20
Robert W. Errett,
Because the proposed rule change IV. Solicitation of Comments Deputy Secretary.
does not (i) significantly affect the
[FR Doc. 2015–14134 Filed 6–9–15; 8:45 am]
protection of investors or the public Interested persons are invited to
interest; (ii) impose any significant BILLING CODE 8011–01–P
submit written data, views, and
burden on competition; and (iii) become arguments concerning the foregoing,
operative for 30 days from the date on including whether the proposed rule
which it was filed, or such shorter time SECURITIES AND EXCHANGE
change is consistent with the Act. COMMISSION
as the Commission may designate, the Comments may be submitted by any of
proposed rule change has become the following methods: [Release No. 34–75109; File No. SR–CBOE–
effective pursuant to section 19(b)(3)(A) 2015–053]
of the Act and Rule 19b–4(f)(6) Electronic Comments
thereunder.17 Self-Regulatory Organizations;
A proposed rule change filed • Use the Commission’s Internet Chicago Board Options Exchange,
pursuant to Rule 19b–4(f)(6) under the comment form (http://www.sec.gov/ Incorporated; Notice of Filing and
Act normally does not become operative rules/sro.shtml); or Immediate Effectiveness of a Proposed
for 30 days after the date of its filing. • Send an email to rule-comments@ Rule Change Relating to Intermarket
However, Rule 19b–4(f)(6)(iii) permits sec.gov. Please include File Number SR– Order Routing
the Commission to designate a shorter BATS–2015–40 on the subject line. June 4, 2015.
time if such action is consistent with the Pursuant to section 19(b)(1) of the
protection of investors and the public Paper Comments
Securities Exchange Act of 1934
interest. The Exchange has asked the
Commission to waive the 30-day • Send paper comments in triplicate (‘‘Act’’),1 and Rule 19b–4 2 thereunder,
to Brent J. Fields, Secretary, Securities notice is hereby given that, on May 28,
operative delay so that the proposal may 2015, Chicago Board Options Exchange,
become operative immediately upon and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090. Incorporated (the ‘‘Exchange’’ or
filing. Waiver of the 30-day operative ‘‘CBOE’’) filed with the Securities and
delay would permit the Exchange to All submissions should refer to File Exchange Commission (‘‘SEC’’ or
provide Members with an alternative Number SR–BATS–2015–40. This file ‘‘Commission’’) the proposed rule
means to access other market centers, number should be included on the change as described in Items I, II, and
particularly in the event of a market subject line if email is used. To help the III below, which Items have been
disruption. In addition, the Exchange Commission process and review your prepared by the Exchange. The
represents that BATS Connect does not comments more efficiently, please use Commission is publishing this notice to
provide any advantage to subscribers for only one method. The Commission will solicit comments on the proposed rule
connecting to the Exchange’s affiliates post all comments on the Commission’s change from interested persons.
as compared to other methods of
Internet Web site (http://www.sec.gov/ I. Self-Regulatory Organization’s
connectivity available to subscribers.18
rules/sro.shtml). Copies of the Statement of the Terms of Substance of
Based on the foregoing, the Commission
submission, all subsequent the Proposed Rule Change
believes the waiver of the operative
amendments, all written statements
delay is consistent with the protection The Exchange proposes to amend
with respect to the proposed rule
of investors and the public interest.19 Rule 6.14B regarding order routing to
The Commission hereby grants the change that are filed with the
Commission, and all written other exchanges to include certain
waiver and designates the proposal references to provisions of Rule 15c3–5
operative upon filing. communications relating to the
proposed rule change between the under the Act 3 and make certain
At any time within 60 days of the miscellaneous non-substantive changes
filing of the proposed rule change, the Commission and any person, other than
to the existing text of Rule 6.20. The text
Commission summarily may those that may be withheld from the
of the proposed rule change is provided
temporarily suspend such rule change if public in accordance with the
below. (additions are italicized;
it appears to the Commission that such provisions of 5 U.S.C. 552, will be
deletions are [bracketed])
action is necessary or appropriate in the available for Web site viewing and
printing in the Commission’s Public * * * * *
public interest, for the protection of
investors, or otherwise in furtherance of Reference Room, 100 F Street NE., Chicago Board Options Exchange,
the purposes of the Act. If the Washington, DC 20549, on official Incorporated Rules
Commission takes such action, the business days between the hours of * * * * *
10:00 a.m. and 3:00 p.m. Copies of the
17 In addition, Rule 19b–4(f)(6)(iii) requires the filing will also be available for Rule 6.14B. Order Routing to Other
Exchange to give the Commission written notice of inspection and copying at the principal Exchanges
the Exchange’s intent to file the proposed rule
change, along with a brief description and text of
office of the Exchange. All comments The Exchange may automatically
the proposed rule change, at least five business days received will be posted without change; route intermarket sweep orders to other
asabaliauskas on DSK5VPTVN1PROD with NOTICES

prior to the date of filing of the proposed rule the Commission does not edit personal exchanges under certain circumstances,
change, or such shorter time as designated by the identifying information from
Commission. The Exchange has satisfied this
including pursuant to Rule 6.14A
requirement. submissions. You should submit only
18 See supra note 8. information that you wish to make 20 17
CFR 200.30–3(a)(12).
19 For purposes only of waiving the 30-day available publicly. All submissions 1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
operative delay, the Commission has also should refer to File Number SR–BATS–
considered the proposed rule’s impact on 3 See Securities Exchange Act Release No. 63241

efficiency, competition, and capital formation. See
2015–40 and should be submitted on or (November 3, 2010), 75 FR 69792 (November 15,
15 U.S.C. 78c(f). before July 1, 2015. 2010).

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Document Created: 2015-12-15 15:17:31
Document Modified: 2015-12-15 15:17:31

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 33001