80 FR 36391 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 121 (June 24, 2015)
Federal Register Volume 80, Issue 121 (June 24, 2015)
| Page Range | 36391-36393 | |
| FR Document | 2015-15451 |
[Federal Register Volume 80, Number 121 (Wednesday, June 24, 2015)] [Notices] [Pages 36391-36393] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-15451] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75243; File No. SR-BATS-2015-45] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc. June 18, 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 June 9, 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, II and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule change 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)(ii). \4\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend its fees and rebates applicable to Members \5\ of the Exchange pursuant to Rule 15.1(a) and (c) (``Fee Schedule'') to adopt fees applicable to Members of the Exchange's equity options platform (``BATS Options'') for the use of a communication and routing service known as BATS Connect. Changes to the fee schedule pursuant to this proposal are effective upon filing. --------------------------------------------------------------------------- \5\ A Member is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange.'' See Exchange Rule 1.5(n). --------------------------------------------------------------------------- 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 The Exchange proposes to adopt fees applicable to Members of BATS Options for the use of a communication and routing service known as BATS Connect. On May 26 [sic], 2015, the Exchange filed a proposed rule change with the Commission to adopt a communication and routing service known as BATS Connect.\6\ The Exchange now proposes to adopt fees related to the use of BATS Connect that are equal to the fees charged for an identical service, also called BATS Connect, offered by the Exchange's affiliate, EDGX.\7\ The Exchange notes that BATS Connect will be offered by all of the Exchange's affiliated equity exchanges but that the fees are also appropriately set forth on the fee schedule of BATS Options because BATS Connect will be offered to all Exchange Members, including Members that participate primarily or exclusively on BATS Options. --------------------------------------------------------------------------- \6\ See file no. SR-BATS-2015-40. \7\ See the EDGX fee schedule available at http://batstrading.com/support/fee_schedule/edgx/. See also Securities Exchange Act Release No. 73780 (December 8, 2014), 79 FR 73942 (December 12, 2014) (SR-EDGX-2014-28) and file no. SR-EDGX-2015-27. --------------------------------------------------------------------------- BATS Connect is offered by the Exchange on a voluntary basis in a capacity similar to a vendor. In sum, BATS Connect is a communication service that provides subscribers an additional means to receive market data from and route orders to any destination connected to the 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 subscriber need not be located in the same facilities as the Exchange in order to subscribe to BATS Connect. Subscribers may also seek to utilize BATS Connect in the event of a market disruption where other alternative connection methods become unavailable. --------------------------------------------------------------------------- \8\ The Exchange's affiliated exchanges are EDGX, EDGA Exchange, Inc. (``EDGA''), and BATS Y-Exchange, Inc. (``BYX''). The Exchange understands that its affiliated exchanges intend to file identical proposed rule changes to adopt the fees for the BATS Connect service with the Commission. The Exchange also notes that its affiliated exchanges have also filed proposed rule changes with the Commission to adopt rules describing the BATS Connect service. --------------------------------------------------------------------------- The Exchange will charge a monthly connectivity fee to subscribers utilizing BATS Connect to route orders to other exchanges and broker- dealers that are connected to the Exchange's network. The amount of the connectivity fee varies based solely on the bandwidth selected by the subscriber. Specifically, the Exchange proposes to charge $350 for 1 Mb, $700 for 5 Mb, $950 for 10 Mb, $1,500 for 25 Mb, $2,500 for 50 Mb, and $3,500 for 100 Mb. BATS Connect would also allow subscribers to receive market data feeds from the exchanges connected to the Exchange's network. In such case, the subscriber would pay the Exchange a connectivity fee, which varies and is based solely on the amount of bandwidth required to transmit the selected data product to the subscriber. The proposed connectivity fees are set forth in the Exhibit 5 attached hereto and range from no charge to $11,500 based on the market data product the subscriber selects. The Exchange also proposes to adopt a discounted fee of $4,160 per month for subscribers who purchase connectivity to a bundle of select market data products. The following market data [[Page 36392]] products would be included in the bundle: UQDF/UTDF/OMDF, CQS/CTS, Nasdaq TotalView, Nasdaq BX TotalView, Nasdaq PSX TotalView, NYSE ArcaBook, NYSE MKT OpenBook Ultra, and BBS/TTDS. Absent the discount, a subscriber purchasing connectivity through BATS Connect for each of these market data products would pay a total monthly fee of $5,200. As proposed, a subscriber who purchases connectivity to each of the above market data products would be charged a monthly fee of $4,160, which represents a 20% discount. The subscribers would pay any fees charged by the exchange providing the market data feed directly to that exchange. The Exchange notes that it will not charge a fee to subscribers utilizing BATS Connect to route orders to or receive market data products from the Exchange's affiliates, EDGX, EDGA, and BYX. BATS Connect provides subscribers a means to access exchanges and market centers on the Exchange's network. In all cases, BATS Connect subscribers would continue to be liable for the necessary fees charged by that exchange or market center, including any required connectivity fees. Market participants who chose a method other than BATS Connect to connect to another exchange or market center would also pay any required connectivity fees directly to that exchange or market center. Likewise, BATS Connect subscribers would be liable for any connectivity fees charged by the Exchange's affiliate. Implementation Date The Exchange proposes to implement these amendments to its Fee Schedule immediately. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\9\ in general, and furthers the objectives of Section 6(b)(4),\10\ in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities. The Exchange also notes that it operates in a highly- competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive. The Exchange believes that the proposed rates are equitable and non-discriminatory in that they apply uniformly to all Members. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f. \10\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange also believes that its proposal is consistent with Section 6(b)(4) of the Act,\11\ in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and other persons using its facilities. First, the Exchange will charge a connectivity fee to subscribers utilizing BATS Connect to route orders to other exchanges and market centers that are connected to the Exchange's network, which varies based solely on the amount of bandwidth selected by the subscriber. The amounts of the connectivity fees are also reasonable as compared to similar fees charged by other exchanges. For purposes of order routing, the Exchange proposes to charge $350 for 1 Mb, $700 for 5 Mb, $950 for 10 Mb, $1,500 for 25 Mb, $2,500 for 50 Mb, and $3,500 for 100 Mb. The New York Stock Exchange, Inc. (``NYSE'') currently charges $300 for 1 Mb, $700 for 5 Mb, $900 for 10 Mb, $1,500 for 25 Mb, $2,000 for 50 Mb, and $2,600 for 100 Mb.\12\ The Exchange notes that, overall, the connectivity fee for routing of orders to other market centers proposed by the Exchange is similar to that charged by the NYSE. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b)(4). \12\ See NYSE's SFTI Americas Product and Service List available at http://www.nyxdata.com/docs/connectivity. --------------------------------------------------------------------------- Second, with regard to utilizing BATS Connect to receive market data products from other exchanges, the Exchange would only charge subscribers a connectivity fee, the amount of which is based solely on the amount of bandwidth required to transmit that specific data product to the subscribers. The amounts of the connectivity fees are also reasonable as compared to similar fees charged by other exchanges. For example, for market data connectivity, the Nasdaq Stock Market LLC (``Nasdaq'') charges $1,412 per month for CQS/CTS data feed, and the Exchange proposes to charge $1,000 per month connectivity for CQS/CTS data feed.\13\ The Exchange notes that, overall, the connectivity fee for receipt of other market centers' data feed proposed by the Exchange is similar to that charged by Nasdaq. --------------------------------------------------------------------------- \13\ See Nasdaq Rule 7034 (setting forth Nasdaq's connectivity fees for receipt of third party market data products). --------------------------------------------------------------------------- The Exchange believes it is reasonable to offer such discounted pricing to subscribers who purchase connectivity to a bundle of market data products as it would enable them to reduce their overall connectivity costs for the receipt of market data. As stated above, BATS Connect is offered and purchased on a voluntary basis and subscribers can discontinue use at any time and for any reason, including due to an assessment of the reasonableness of fees charged. Moreover, the Exchange believes the proposed fees are reasonable and equitable because they continue to be based on the Exchange's costs to cover the amount of bandwidth required to provide connectivity to the select bundle of data feeds. The proposed fees will continue to allow the Exchange to recoup this cost, while providing subscribers with an alternative means to connect to the select bundle of data feeds at a discounted rate. The subscribers would pay any fees: (i) charged by the exchange providing the market data feed directly to that exchange (ii) charged by a market center to which they routed an order and an execution occurred directly to that market center. The Exchange itself would not charge any additional fees.\14\ BATS Connect is offered and purchased on a voluntary basis, in that neither the Exchange nor subscribers are required by any rule or regulation to make this product available. Accordingly, subscribers can discontinue use at any time and for any reason, including due to an assessment of the reasonableness of fees charged. --------------------------------------------------------------------------- \14\ The Exchange's rules and fees would not address the fees or manner of operation of any destination to which the subscriber asked that an order be routed. --------------------------------------------------------------------------- Moreover, the Exchange believes the proposed fees are reasonable and equitable because they are based on the Exchange's costs to cover hardware, installation, testing and connection, as well as expenses involved in maintaining and managing the service. The proposed fees allow the Exchange to recoup these costs, while providing subscribers with an alternative means to connect to other exchange and market centers. The Exchange believes that the proposed fees are reasonable and equitable in that they reflect the costs and the benefit of providing alternative connectivity. The Exchange also believes it is equitable and reasonable to provide BATS Connect to subscribers for no charge to route orders to or receive market data products from the Exchange's affiliates. BATS Connect provides subscribers a means to access exchanges and market centers on the Exchange's network. In all cases, BATS Connect subscribers would continue to be liable for the necessary fees charged by the Exchange, its affiliate, or another exchange or market center, including any required connectivity fees. As stated above, BATS Connect is offered and purchased on a voluntary basis, and subscribers and market participants may [[Page 36393]] choose an alternative method to connect to the Exchange, its affiliates, or another exchange or market center connected to the Exchange's network. Such other services may also offer at no charge connectivity to certain exchanges or a group of exchanges.\15\ Therefore, the Exchange believes that the providing BATS Connect to subscribers at no charge to route orders to or receive market data products from the Exchange's affiliates is reasonable and equitable as they will continue to be liable to the Exchange or its affiliate for any required connectivity fees. --------------------------------------------------------------------------- \15\ See NYSE's SFTI Americas Product and Service List available at http://www.nyxdata.com/docs/connectivity (offering at no charge connectivity to the NYSE, NYSE MKT LLC, and NYSE Arca, Inc.). --------------------------------------------------------------------------- Lastly, the Exchange also believes that the proposed amendments to its fee schedule are non-discriminatory because they will apply uniformly to all subscribers. All subscribers that voluntarily select various service options will be charged the same amount for the same services. All subscribers have the option to select any connectivity option, and there is no differentiation among subscribers with regard to the fees charged for the service. Further, the benefits of selecting such services are the same for all subscribers, irrespective of whether their servers are located in the same facility as the Exchange. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange believes its proposed amendments to its Fee Schedule would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe the proposed fees for BATS Connect will result in any burden on competition. The proposed rule change is designed to provide subscribers with an alternative means to access other market centers on the Exchange's network if they choose or in the event of a market disruption where other alternative connection methods become unavailable. BATS Connect is not the exclusive method to connect to these market centers and subscribers may utilize alternative methods to connect to the product if they believe the Exchange's proposed pricing is unreasonable or otherwise. Therefore, the Exchange does not believe the proposed rule change will have any effect on competition. 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 The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \16\ and paragraph (f) of Rule 19b-4 thereunder.\17\ 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. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(3)(A). \17\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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 CommentsUse 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-BATS-2015-45 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-BATS-2015-45. 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 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 Number SR-BATS-2015-45 and should be submitted on or before July 15, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\18\ --------------------------------------------------------------------------- \18\ 17 CFR 200.30-3(a)(12). Brent J. Fields, Secretary. [FR Doc. 2015-15451 Filed 6-23-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 121 / Wednesday, June 24, 2015 / Notices 36391
Reference Room, 100 F Street NE., I. Self-Regulatory Organization’s be offered by all of the Exchange’s
Washington, DC 20549 on official Statement of the Terms of Substance of affiliated equity exchanges but that the
business days between the hours of 10 the Proposed Rule Change fees are also appropriately set forth on
a.m. and 3 p.m. Copies of such filing The Exchange filed a proposal to the fee schedule of BATS Options
also will be available for inspection and amend its fees and rebates applicable to because BATS Connect will be offered
copying at the principal offices of Members 5 of the Exchange pursuant to to all Exchange Members, including
FINRA. All comments received will be Rule 15.1(a) and (c) (‘‘Fee Schedule’’) to Members that participate primarily or
posted without change; the Commission adopt fees applicable to Members of the exclusively on BATS Options.
Exchange’s equity options platform BATS Connect is offered by the
does not edit personal identifying
(‘‘BATS Options’’) for the use of a Exchange on a voluntary basis in a
information from submissions. You
communication and routing service capacity similar to a vendor. In sum,
should submit only information that BATS Connect is a communication
you wish to make available publicly. All known as BATS Connect. Changes to
the fee schedule pursuant to this service that provides subscribers an
submissions should refer to File additional means to receive market data
Number SR–FINRA–2015–018, and proposal are effective upon filing.
The text of the proposed rule change from and route orders to any destination
should be submitted on or before July connected to the Exchange’s network.
is available at the Exchange’s Web site
15, 2015. BATS Connect does not provide any
at www.batstrading.com, at the
For the Commission, by the Division of principal office of the Exchange, and at advantage to subscribers for connecting
Trading and Markets, pursuant to delegated the Commission’s Public Reference to the Exchange’s affiliates 8 as
authority.28 Room. compared to other method of
Brent J. Fields, connectivity available to subscribers.
II. Self-Regulatory Organization’s The servers of the subscriber need not
Secretary. Statement of the Purpose of, and be located in the same facilities as the
[FR Doc. 2015–15454 Filed 6–23–15; 8:45 am] Statutory Basis for, the Proposed Rule Exchange in order to subscribe to BATS
BILLING CODE 8011–01–P Change Connect. Subscribers may also seek to
In its filing with the Commission, the utilize BATS Connect in the event of a
Exchange included statements market disruption where other
SECURITIES AND EXCHANGE concerning the purpose of and basis for alternative connection methods become
COMMISSION the proposed rule change and discussed unavailable.
any comments it received on the The Exchange will charge a monthly
[Release No. 34–75243; File No. SR–BATS– proposed rule change. The text of these connectivity fee to subscribers utilizing
2015–45] statements may be examined at the BATS Connect to route orders to other
places specified in Item IV below. The exchanges and broker-dealers that are
Self-Regulatory Organizations; BATS Exchange has prepared summaries, set connected to the Exchange’s network.
Exchange, Inc.; Notice of Filing and forth in Sections A, B, and C below, of The amount of the connectivity fee
Immediate Effectiveness of a Proposed the most significant parts of such varies based solely on the bandwidth
Rule Change Related to Fees for Use statements. selected by the subscriber. Specifically,
of BATS Exchange, Inc. the Exchange proposes to charge $350
A. Self-Regulatory Organization’s for 1 Mb, $700 for 5 Mb, $950 for 10 Mb,
June 18, 2015. Statement of the Purpose of, and $1,500 for 25 Mb, $2,500 for 50 Mb, and
Statutory Basis for, the Proposed Rule $3,500 for 100 Mb.
Pursuant to Section 19(b)(1) of the Change BATS Connect would also allow
Securities Exchange Act of 1934 (the
1. Purpose subscribers to receive market data feeds
‘‘Act’’),1 and Rule 19b–4 thereunder,2 from the exchanges connected to the
notice is hereby given that on June 9, The Exchange proposes to adopt fees Exchange’s network. In such case, the
2015, BATS Exchange, Inc. (the applicable to Members of BATS Options subscriber would pay the Exchange a
‘‘Exchange’’ or ‘‘BATS’’) filed with the for the use of a communication and connectivity fee, which varies and is
Securities and Exchange Commission routing service known as BATS based solely on the amount of
(‘‘Commission’’) the proposed rule Connect. bandwidth required to transmit the
change as described in Items I, II and III On May 26 [sic], 2015, the Exchange selected data product to the subscriber.
below, which Items have been prepared filed a proposed rule change with the The proposed connectivity fees are set
by the Exchange. The Exchange has Commission to adopt a communication forth in the Exhibit 5 attached hereto
designated the proposed rule change as and routing service known as BATS and range from no charge to $11,500
one establishing or changing a member Connect.6 The Exchange now proposes based on the market data product the
due, fee, or other charge imposed by the to adopt fees related to the use of BATS subscriber selects.
Exchange under Section 19(b)(3)(A)(ii) Connect that are equal to the fees The Exchange also proposes to adopt
charged for an identical service, also a discounted fee of $4,160 per month for
of the Act 3 and Rule 19b–4(f)(2)
called BATS Connect, offered by the subscribers who purchase connectivity
thereunder,4 which renders the
Exchange’s affiliate, EDGX.7 The to a bundle of select market data
proposed rule change effective upon
Exchange notes that BATS Connect will products. The following market data
filing with the Commission. The
Commission is publishing this notice to 5 A Member is defined as ‘‘any registered broker
8 The Exchange’s affiliated exchanges are EDGX,
solicit comments on the proposed rule or dealer that has been admitted to membership in EDGA Exchange, Inc. (‘‘EDGA’’), and BATS Y-
tkelley on DSK3SPTVN1PROD with NOTICES
change from interested persons. the Exchange.’’ See Exchange Rule 1.5(n). Exchange, Inc. (‘‘BYX’’). The Exchange understands
6 See file no. SR–BATS–2015–40.
that its affiliated exchanges intend to file identical
7 See the EDGX fee schedule available at http:// proposed rule changes to adopt the fees for the
28 17 CFR 200.30–3(a)(12).
1 15
batstrading.com/support/fee_schedule/edgx/. See BATS Connect service with the Commission. The
U.S.C. 78s(b)(1). also Securities Exchange Act Release No. 73780 Exchange also notes that its affiliated exchanges
2 17 CFR 240.19b–4.
(December 8, 2014), 79 FR 73942 (December 12, have also filed proposed rule changes with the
3 15 U.S.C. 78s(b)(3)(A)(ii).
2014) (SR–EDGX–2014–28) and file no. SR–EDGX– Commission to adopt rules describing the BATS
4 17 CFR 240.19b–4(f)(2). 2015–27. Connect service.
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![Federal Register / Vol. 80, No. 121 / Wednesday, June 24, 2015 / Notices 36393
choose an alternative method to connect C. Self-Regulatory Organization’s Commission and any person, other than
to the Exchange, its affiliates, or another Statement on Comments on the those that may be withheld from the
exchange or market center connected to Proposed Rule Change Received From public in accordance with the
the Exchange’s network. Such other Members, Participants or Others provisions of 5 U.S.C. 552, will be
services may also offer at no charge The Exchange has not solicited, and available for Web site viewing and
connectivity to certain exchanges or a does not intend to solicit, comments on printing in the Commission’s Public
group of exchanges.15 Therefore, the this proposed rule change. The Reference Room, 100 F Street, NE.,
Exchange believes that the providing Exchange has not received any Washington, DC 20549, on official
BATS Connect to subscribers at no unsolicited written comments from business days between the hours of
charge to route orders to or receive Members or other interested parties. 10:00 a.m. and 3:00 p.m. Copies of such
market data products from the filing will also be available for
III. Date of Effectiveness of the inspection and copying at the principal
Exchange’s affiliates is reasonable and Proposed Rule Change and Timing for office of the Exchange. All comments
equitable as they will continue to be Commission Action received will be posted without change;
liable to the Exchange or its affiliate for
The foregoing rule change has become the Commission does not edit personal
any required connectivity fees. identifying information from
effective pursuant to Section 19(b)(3)(A)
Lastly, the Exchange also believes that of the Act 16 and paragraph (f) of Rule submissions. You should submit only
the proposed amendments to its fee 19b–4 thereunder.17 At any time within information that you wish to make
schedule are non-discriminatory 60 days of the filing of the proposed rule available publicly. All submissions
because they will apply uniformly to all change, the Commission summarily may should refer to File Number SR–BATS–
subscribers. All subscribers that temporarily suspend such rule change if 2015–45 and should be submitted on or
voluntarily select various service it appears to the Commission that such before July 15, 2015.
options will be charged the same action is necessary or appropriate in the For the Commission, by the Division
amount for the same services. All public interest, for the protection of of Trading and Markets, pursuant to
subscribers have the option to select any investors, or otherwise in furtherance of delegated authority.18
connectivity option, and there is no the purposes of the Act.
Brent J. Fields,
differentiation among subscribers with IV. Solicitation of Comments Secretary.
regard to the fees charged for the Interested persons are invited to [FR Doc. 2015–15451 Filed 6–23–15; 8:45 am]
service. Further, the benefits of selecting submit written data, views and BILLING CODE 8011–01–P
such services are the same for all arguments concerning the foregoing,
subscribers, irrespective of whether including whether the proposed rule
their servers are located in the same change is consistent with the Act.
facility as the Exchange. SOCIAL SECURITY ADMINISTRATION
Comments may be submitted by any of
B. Self-Regulatory Organization’s the following methods: [Docket No: SSA–2015–0039]
Statement on Burden on Competition Electronic Comments Agency Information Collection
The Exchange believes its proposed • Use the Commission’s Internet Activities: Proposed Request
amendments to its Fee Schedule would comment form (http://www.sec.gov/
rules/sro.shtml); or The Social Security Administration
not impose any burden on competition (SSA) publishes a list of information
• Send an email to rule-comments@
that is not necessary or appropriate in sec.gov. Please include File Number SR– collection packages requiring clearance
furtherance of the purposes of the Act. BATS–2015–45 on the subject line. by the Office of Management and
The Exchange does not believe the Budget (OMB) in compliance with
proposed fees for BATS Connect will Paper Comments Public Law 104–13, the Paperwork
result in any burden on competition. • Send paper comments in triplicate Reduction Act of 1995, effective October
The proposed rule change is designed to to Secretary, Securities and Exchange 1, 1995. This notice includes revisions
provide subscribers with an alternative Commission, 100 F Street NE., and an extension of OMB-approved
means to access other market centers on Washington, DC 20549–1090. information collections.
the Exchange’s network if they choose All submissions should refer to File SSA is soliciting comments on the
or in the event of a market disruption Number SR–BATS–2015–45. This file accuracy of the agency’s burden
where other alternative connection number should be included on the estimate; the need for the information;
methods become unavailable. BATS subject line if email is used. To help the its practical utility; ways to enhance its
Connect is not the exclusive method to Commission process and review your quality, utility, and clarity; and ways to
connect to these market centers and comments more efficiently, please use minimize burden on respondents,
only one method. The Commission will including the use of automated
subscribers may utilize alternative
post all comments on the Commission’s collection techniques or other forms of
methods to connect to the product if
Internet Web site (http://www.sec.gov/ information technology. Mail, email, or
they believe the Exchange’s proposed
rules/sro.shtml). Copies of the fax your comments and
pricing is unreasonable or otherwise. recommendations on the information
Therefore, the Exchange does not submission, all subsequent
amendments, all written statements collection(s) to the OMB Desk Officer
believe the proposed rule change will and SSA Reports Clearance Officer at
with respect to the proposed rule
have any effect on competition.
tkelley on DSK3SPTVN1PROD with NOTICES
change that are filed with the the following addresses or fax numbers.
Commission, and all written (OMB), Office of Management and
communications relating to the Budget, Attn: Desk Officer for SSA, Fax:
15 See NYSE’s SFTI Americas Product and Service proposed rule change between the 202–395–6974, Email address: OIRA_
List available at http://www.nyxdata.com/docs/ Submission@omb.eop.gov.
connectivity (offering at no charge connectivity to 16 15 U.S.C. 78s(b)(3)(A).
the NYSE, NYSE MKT LLC, and NYSE Arca, Inc.). 17 17 CFR 240.19b–4(f). 18 17 CFR 200.30–3(a)(12).
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Document Created: 2015-12-15 14:09:33
Document Modified: 2015-12-15 14:09:33
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 80 FR 36391 |
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