80 FR 47964 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of EDGX Exchange, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 153 (August 10, 2015)
Federal Register Volume 80, Issue 153 (August 10, 2015)
| Page Range | 47964-47966 | |
| FR Document | 2015-19535 |
[Federal Register Volume 80, Number 153 (Monday, August 10, 2015)] [Notices] [Pages 47964-47966] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-19535] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75594; File No. SR-EDGX-2015-35] Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of EDGX Exchange, Inc. August 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 July 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, 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 schedule of fees and rebates applicable to Members \5\ and non-Members of the Exchange pursuant to EDGX Rule 15.1(a) and (c) (``Fee Schedule'') to remove fee code 5, which is appended to trades that inadvertently match against each other and share the same Market Participant Identifier (``MPID'') (``Internalized Trade'') during the Pre-Opening \6\ and Post-Closing Sessions.\7\ --------------------------------------------------------------------------- \5\ The term ``Member'' is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange.'' See Exchange Rule 1.5(n). \6\ The ``Pre-Opening Session'' is defined as ``the time between 8:00 a.m. and 9:30 a.m. Eastern Time.'' See Exchange Rule 1.5(r). \7\ The ``Post-Closing Session'' is defined as ``the time between 4:00 p.m. and 8:00 p.m. Eastern Time.'' See Exchange Rule 1.5(s). --------------------------------------------------------------------------- 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. [[Page 47965]] 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 amend its Fee Schedule to remove fee code 5, which is appended to Internalized Trade that add or remove liquidity during the Pre-Opening and Post-Closing Sessions. Orders that yield fee code 5 are changed [sic] a fee of $0.00045 per share in securities priced at or above $1.00 and 0.15% of the dollar value of the trade in securities priced below $1.00. During Regular Trading Hours,\8\ fee code EA is appended to side of an Internalized Trade that adds liquidity, while fee code ER is appended to the side of an Internalized Trade that removes liquidity. Going forward, fee codes EA or ER will also be appended to Internalized Trades during the Pre-Opening and Post-Closing Sessions. Like fee code 5, orders that yield fee codes EA or ER are charged a fee of $0.00045 per share in securities priced at or above $1.00 and 0.15% of the dollar value of the trade in securities priced below $1.00. --------------------------------------------------------------------------- \8\ The ``Regular Trading Hours'' is defined as ``the time between 9:30 a.m. and 4:00 p.m. Eastern Time.'' See Exchange Rule 1.5(y). --------------------------------------------------------------------------- As a result of the proposed removal of fee code 5, the Exchange also proposes to: (i) remove reference to fee code 5 from footnote 7 and; (ii) delete footnote 10. Under footnote 7, if a Member adds an ADV of at least 10,000,000 shares, then the Member's rate for fee codes 5, EA, or ER decreases to $0.0001 per share per side. Fee codes EA and ER would continue to remain eligible for the reduced fee under footnote 7. Footnote 10 states that a Member's monthly volume attributed to fee code 5 will be allocated accordingly between the added fee codes and removal fee codes when determining whether that Member satisfied a certain tier. The Exchange proposes to delete footnote 10 as it will no longer be necessary once fee code 5 is deleted. Implementation Date The Exchange proposes to implement these amendments to its Fee Schedule on August 3, 2015. 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. Specifically, the Exchange believes it is equitable, reasonable and non-discriminatory to delete fee code 5 because, going forward, fee codes EA and ER will be applied to the applicable side of an Internalized Trade. The proposed deletion of fee code 5 does not amend the fees charged for Internalized Trades. Members would continue to be charged identical fees for Internalized Trades occurring during the Pre-Opening and Post-Closing sessions as the fees charged for fee codes EA and ER are the same as fee code 5. The charge for Members inadvertently matching with themselves will continue to be no more favorable than the Exchange's maker/taker spread enabling the Exchange to continue to discourage potential wash sales.\11\ In addition, the Exchange believes it is equitable and reasonable to remove a reference to fee code 5 in footnote 7 and delete footnote 10 as they are no longer necessary in light of the deletion of fee code 5 from the Exchange's Fee Schedule. Lastly, the Exchange also believes that the proposed amendment is non-discriminatory because it applies uniformly to all Members. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f. \10\ 15 U.S.C. 78f(b)(4). \11\ The Exchange will continue to ensure that the fees applicable to Internalized Trades are no more favorable than the Exchange's prevailing maker/taker spread. --------------------------------------------------------------------------- (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. The proposed changes do not amend the amount or application of any fee or rebate. Members would continue to be charged identical fees for Internalized Trades occurring during the Pre-Opening and Post-Closing sessions as the fees charged for fee codes EA and ER are the same as those fees charged for orders that yielded fee code 5. (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 \12\ and paragraph (f) of Rule 19b-4 thereunder.\13\ 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. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 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-EDGX-2015-35 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-EDGX-2015-35. 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 [[Page 47966]] 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-EDGX-2015-35 and should be submitted on or before August 31, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\14\ Robert W. Errett, Deputy Secretary. --------------------------------------------------------------------------- \14\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2015-19535 Filed 8-7-15; 8:45 am] BILLING CODE 8011-01-P
![47964 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
Dated at Rockville, Maryland, this 31 day seal. The Postal Service seeks to SECURITIES AND EXCHANGE
of July, 2015. incorporate by reference the Application COMMISSION
For the Nuclear Regulatory Commission. for Non-Public Treatment originally
A. Louise Lund, [Release No. 34–75594; File No. SR–EDGX–
filed in this docket for the protection of 2015–35]
Acting Director, Division of Operating Reactor information that it has filed under seal.
Licensing, Office of Nuclear Reactor
Id. Self-Regulatory Organizations; EDGX
Regulation.
Amendment 2 revises section I of the Exchange, Inc.; Notice of Filing and
[FR Doc. 2015–19587 Filed 8–7–15; 8:45 am]
contract by inserting in section I, Terms, Immediate Effectiveness of a Proposed
BILLING CODE 7590–01–P Rule Change Related to Fees for Use
new sections I.F and I.G, and replacing
of EDGX Exchange, Inc.
section II, Annual Adjustment, in its
POSTAL REGULATORY COMMISSION entirety. Id. Attachment A at 1. August 4, 2015
The Postal Service intends for Pursuant to Section 19(b)(1) of the
[Docket No. CP2013–44; Order No. 2635] Securities Exchange Act of 1934 (the
Amendment 2 to become effective one
business day after the date that the ‘‘Act’’),1 and Rule 19b–4 thereunder,2
New Postal Product
Commission issues all necessary notice is hereby given that on July 28,
AGENCY: Postal Regulatory Commission. 2015, EDGX Exchange, Inc. (the
regulatory approval. Id. The Postal
ACTION: Notice. ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Service asserts that the Amendment will
Securities and Exchange Commission
not impair the ability of the contract to (‘‘Commission’’) the proposed rule
SUMMARY: The Commission is noticing a
recent Postal Service filing concerning comply with 39 U.S.C. 3633(a). Notice, change as described in Items I, II and III
an amendment to Priority Mail Express Attachment B. below, which Items have been prepared
& Priority Mail Contract 12 negotiated II. Notice of Filings by the Exchange. The Exchange has
service agreement. This notice informs designated the proposed rule change as
the public of the filing, invites public The Commission invites comments on one establishing or changing a member
comment, and takes other whether the changes presented in the due, fee, or other charge imposed by the
administrative steps. Postal Service’s Notice are consistent Exchange under Section 19(b)(3)(A)(ii)
DATES: Comments are due: August 11, with the policies of 39 U.S.C. 3632, of the Act 3 and Rule 19b–4(f)(2)
2015. 3633, or 3642, 39 CFR 3015.5, and 39 thereunder,4 which renders the
CFR part 3020, subpart B. Comments are proposed rule change effective upon
ADDRESSES: Submit comments filing with the Commission. The
electronically via the Commission’s due no later than August 11, 2015. The
public portions of these filings can be Commission is publishing this notice to
Filing Online system at http:// solicit comments on the proposed rule
www.prc.gov. Those who cannot submit accessed via the Commission’s Web site
(http://www.prc.gov). change from interested persons.
comments electronically should contact
the person identified in the FOR FURTHER The Commission appoints Lyudmila I. Self-Regulatory Organization’s
INFORMATION CONTACT section by Y. Bzhilyanskaya to represent the Statement of the Terms of Substance of
telephone for advice on filing interests of the general public (Public the Proposed Rule Change
alternatives. Representative) in this docket. The Exchange filed a proposal to
FOR FURTHER INFORMATION CONTACT: amend its schedule of fees and rebates
III. Ordering Paragraphs applicable to Members 5 and non-
David A. Trissell, General Counsel, at
202–789–6820. It is ordered: Members of the Exchange pursuant to
EDGX Rule 15.1(a) and (c) (‘‘Fee
SUPPLEMENTARY INFORMATION: 1. The Commission reopens Docket Schedule’’) to remove fee code 5, which
Table of Contents No. CP2013–44 for consideration of is appended to trades that inadvertently
matters raised by the Postal Service’s match against each other and share the
I. Introduction
Notice. same Market Participant Identifier
II. Notice of Commission Action
III. Ordering Paragraphs 2. Pursuant to 39 U.S.C. 505, the (‘‘MPID’’) (‘‘Internalized Trade’’) during
Commission appoints Lyudmila Y. the Pre-Opening 6 and Post-Closing
I. Introduction Bzhilyanskaya to serve as an officer of Sessions.7
the Commission (Public Representative) The text of the proposed rule change
On July 31, 2015, the Postal Service is available at the Exchange’s Web site
filed notice that it has agreed to an to represent the interests of the general
public in this proceeding. at www.batstrading.com, at the
Amendment to the existing Priority Mail principal office of the Exchange, and at
Express & Priority Mail Contract 12 3. Comments are due no later than the Commission’s Public Reference
negotiated service agreement approved August 11, 2015. Room.
in this docket.1 In support of its Notice,
4. The Secretary shall arrange for
the Postal Service includes a redacted 1 15 U.S.C. 78s(b)(1).
copy of Amendment 2 and a publication of this order in the Federal
2 17 CFR 240.19b–4.
certification of compliance with 39 Register. 3 15 U.S.C. 78s(b)(3)(A)(ii).
U.S.C. 3633(a), as required by 39 CFR By the Commission. 4 17 CFR 240.19b–4(f)(2).
3015.5. Notice at 1. Ruth Ann Abrams, 5 The term ‘‘Member’’ is defined as ‘‘any
The Postal Service also filed the registered broker or dealer that has been admitted
tkelley on DSK3SPTVN1PROD with NOTICES
Acting Secretary. to membership in the Exchange.’’ See Exchange
unredacted Amendment 2 and [FR Doc. 2015–19531 Filed 8–7–15; 8:45 am] Rule 1.5(n).
supporting financial information under 6 The ‘‘Pre-Opening Session’’ is defined as ‘‘the
BILLING CODE 7710–FW–P
time between 8:00 a.m. and 9:30 a.m. Eastern
1 Notice of United States Postal Service of Change Time.’’ See Exchange Rule 1.5(r).
in Prices Pursuant to Amendment to Priority Mail 7 The ‘‘Post-Closing Session’’ is defined as ‘‘the
Express & Priority Mail Contract 12, July 31, 2015 time between 4:00 p.m. and 8:00 p.m. Eastern
(Notice). Time.’’ See Exchange Rule 1.5(s).
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![Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices 47965
II. Self-Regulatory Organization’s satisfied a certain tier. The Exchange are the same as those fees charged for
Statement of the Purpose of, and proposes to delete footnote 10 as it will orders that yielded fee code 5.
Statutory Basis for, the Proposed Rule no longer be necessary once fee code 5
(C) Self-Regulatory Organization’s
Change is deleted.
Statement on Comments on the
In its filing with the Commission, the Implementation Date Proposed Rule Change Received From
Exchange included statements The Exchange proposes to implement Members, Participants or Others
concerning the purpose of and basis for these amendments to its Fee Schedule The Exchange has not solicited, and
the proposed rule change and discussed on August 3, 2015. does not intend to solicit, comments on
any comments it received on the
2. Statutory Basis this proposed rule change. The
proposed rule change. The text of these
Exchange has not received any
statements may be examined at the The Exchange believes that the unsolicited written comments from
places specified in Item IV below. The proposed rule change is consistent with Members or other interested parties.
Exchange has prepared summaries, set the objectives of Section 6 of the Act,9
forth in Sections A, B, and C below, of in general, and furthers the objectives of III. Date of Effectiveness of the
the most significant parts of such Section 6(b)(4),10 in particular, as it is Proposed Rule Change and Timing for
statements. designed to provide for the equitable Commission Action
(A) Self-Regulatory Organization’s allocation of reasonable dues, fees and The foregoing rule change has become
Statement of the Purpose of, and other charges among its Members and effective pursuant to Section 19(b)(3)(A)
Statutory Basis for, the Proposed Rule other persons using its facilities. of the Act 12 and paragraph (f) of Rule
Change Specifically, the Exchange believes it is 19b–4 thereunder.13 At any time within
equitable, reasonable and non- 60 days of the filing of the proposed rule
1. Purpose discriminatory to delete fee code 5 change, the Commission summarily may
The Exchange proposes to amend its because, going forward, fee codes EA temporarily suspend such rule change if
Fee Schedule to remove fee code 5, and ER will be applied to the applicable it appears to the Commission that such
which is appended to Internalized side of an Internalized Trade. The action is necessary or appropriate in the
Trade that add or remove liquidity proposed deletion of fee code 5 does not public interest, for the protection of
during the Pre-Opening and Post- amend the fees charged for Internalized investors, or otherwise in furtherance of
Closing Sessions. Orders that yield fee Trades. Members would continue to be the purposes of the Act.
code 5 are changed [sic] a fee of charged identical fees for Internalized
Trades occurring during the Pre- IV. Solicitation of Comments
$0.00045 per share in securities priced
at or above $1.00 and 0.15% of the Opening and Post-Closing sessions as Interested persons are invited to
dollar value of the trade in securities the fees charged for fee codes EA and ER submit written data, views, and
priced below $1.00. During Regular are the same as fee code 5. The charge arguments concerning the foregoing,
Trading Hours,8 fee code EA is for Members inadvertently matching including whether the proposed rule
appended to side of an Internalized with themselves will continue to be no change is consistent with the Act.
Trade that adds liquidity, while fee code more favorable than the Exchange’s Comments may be submitted by any of
ER is appended to the side of an maker/taker spread enabling the the following methods:
Internalized Trade that removes Exchange to continue to discourage
potential wash sales.11 In addition, the Electronic Comments
liquidity. Going forward, fee codes EA
or ER will also be appended to Exchange believes it is equitable and • Use the Commission’s Internet
Internalized Trades during the Pre- reasonable to remove a reference to fee comment form (http://www.sec.gov/
Opening and Post-Closing Sessions. code 5 in footnote 7 and delete footnote rules/sro.shtml); or
Like fee code 5, orders that yield fee 10 as they are no longer necessary in • Send an email to rule-comments@
codes EA or ER are charged a fee of light of the deletion of fee code 5 from sec.gov. Please include File Number SR–
$0.00045 per share in securities priced the Exchange’s Fee Schedule. Lastly, the EDGX–2015–35 on the subject line.
at or above $1.00 and 0.15% of the Exchange also believes that the
proposed amendment is non- Paper Comments
dollar value of the trade in securities
discriminatory because it applies • Send paper comments in triplicate
priced below $1.00.
As a result of the proposed removal of uniformly to all Members. to Brent J. Fields, Secretary, Securities
fee code 5, the Exchange also proposes and Exchange Commission, 100 F Street
(B) Self-Regulatory Organization’s
to: (i) remove reference to fee code 5 NE., Washington, DC 20549–1090.
Statement on Burden on Competition
from footnote 7 and; (ii) delete footnote All submissions should refer to File
The Exchange does not believe that Number SR–EDGX–2015–35. This file
10. Under footnote 7, if a Member adds the proposed rule change will impose
an ADV of at least 10,000,000 shares, number should be included on the
any burden on competition. The subject line if email is used. To help the
then the Member’s rate for fee codes 5, proposed changes do not amend the
EA, or ER decreases to $0.0001 per share Commission process and review your
amount or application of any fee or comments more efficiently, please use
per side. Fee codes EA and ER would rebate. Members would continue to be
continue to remain eligible for the only one method. The Commission will
charged identical fees for Internalized post all comments on the Commission’s
reduced fee under footnote 7. Footnote Trades occurring during the Pre-
10 states that a Member’s monthly Internet Web site (http://www.sec.gov/
Opening and Post-Closing sessions as rules/sro.shtml). Copies of the
volume attributed to fee code 5 will be
tkelley on DSK3SPTVN1PROD with NOTICES
the fees charged for fee codes EA and ER submission, all subsequent
allocated accordingly between the
added fee codes and removal fee codes amendments, all written statements
9 15 U.S.C. 78f.
when determining whether that Member 10 15
with respect to the proposed rule
U.S.C. 78f(b)(4).
11 The Exchange will continue to ensure that the
change that are filed with the
8 The ‘‘Regular Trading Hours’’ is defined as ‘‘the fees applicable to Internalized Trades are no more
12 15 U.S.C. 78s(b)(3)(A).
time between 9:30 a.m. and 4:00 p.m. Eastern favorable than the Exchange’s prevailing maker/
Time.’’ See Exchange Rule 1.5(y). taker spread. 13 17 CFR 240.19b–4(f).
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![47966 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
Commission, and all written proposed rule change effective upon Hours,6 fee code EA is appended to side
communications relating to the filing with the Commission. The of an Internalized Trade that adds
proposed rule change between the Commission is publishing this notice to liquidity while fee code ER is appended
Commission and any person, other than solicit comments on the proposed rule to the side of an Internalized Trade that
those that may be withheld from the change from interested persons. removes liquidity. Fee code 5 is
public in accordance with the appended to Internalized Trades that
I. Self-Regulatory Organization’s
provisions of 5 U.S.C. 552, will be add or remove liquidity during the Pre-
Statement of the Terms of Substance of
available for Web site viewing and Opening 7 and Post-Closing Sessions.8
the Proposed Rule Change
printing in the Commission’s Public Orders that yield fee codes 5, EA, or ER
Reference Room, 100 F Street NE., The Exchange filed a proposal to are charged a fee of $0.00015 per share
Washington, DC 20549, on official amend its fees and rebates applicable to in securities priced at or above $1.00
business days between the hours of Members 5 of the Exchange pursuant to and are charged no fee in securities
10:00 a.m. and 3:00 p.m. Copies of the EDGA Rule 15.1(a) and (c) (‘‘Fee priced below $1.00. Going forward, each
filing will also be available for Schedule’’) to: (i) To remove fee codes side of an Internalized Trade will be
inspection and copying at the principal 5, EA, and ER which are appended to subject to the Exchange’s standard fees
office of the Exchange. All comments trades that inadvertently match against or rebates. Under the Exchange’s
received will be posted without change; each other and share the same Market standard rates, a rebate of $0.0002 per
the Commission does not edit personal Participant Identifier (‘‘MPID’’) share is provided to orders that remove
identifying information from (‘‘Internalized Trade’’); and (ii) amend liquidity in securities priced at or above
submissions. You should submit only the criteria for the MidPoint $1.00. For orders that add liquidity, a
information that you wish to make Discretionary Order Add Volume Tier. charge of $0.0005 per share is applied
available publicly. All submissions The text of the proposed rule change for orders in securities priced at or
should refer to File Number SR–EDGX– is available at the Exchange’s Web site above $1.00, unless the Member
2015–35 and should be submitted on or at www.batstrading.com, at the qualifies for a decreased fee. Orders in
before August 31, 2015. principal office of the Exchange, and at securities priced below $1.00 are free,
the Commission’s Public Reference regardless of whether they add or
For the Commission, by the Division of
Trading and Markets, pursuant to delegated Room. remove liquidity.
authority.14 II. Self-Regulatory Organization’s The Exchange also proposes to delete
Robert W. Errett, Statement of the Purpose of, and footnote 13, which states that a
Deputy Secretary. Statutory Basis for, the Proposed Rule Member’s monthly volume attributed to
[FR Doc. 2015–19535 Filed 8–7–15; 8:45 am] Change fee code 5 will be allocated accordingly
between the added fee codes and
BILLING CODE 8011–01–P In its filing with the Commission, the removal fee codes when determining
Exchange included statements whether that Member satisfied a certain
concerning the purpose of and basis for tier. The Exchange proposes to delete
SECURITIES AND EXCHANGE the proposed rule change and discussed
COMMISSION footnote 13 as it will no longer be
any comments it received on the necessary once fee code 5 is deleted.
[Release No. 34–75593; File No. SR–EDGA– proposed rule change. The text of these
2015–29] statements may be examined at the MidPoint Discretionary Order Add
places specified in Item IV below. The Volume Tier
Self-Regulatory Organizations; EDGA Exchange has prepared summaries, set The Exchange proposes to amend the
Exchange, Inc.; Notice of Filing and forth in Sections A, B, and C below, of criteria for the MidPoint Discretionary
Immediate Effectiveness of a Proposed the most significant parts of such Order Add Volume Tier. Under the tier,
Rule Change Related to Fees for Use statements. a Member qualifies for a reduced fee of
of EDGA Exchange, Inc. $0.0003 per share where that Member:
(A) Self-Regulatory Organization’s
August 4, 2015. (i) Adds an ADV of at least 0.20% of the
Statement of the Purpose of, and
Pursuant to Section 19(b)(1) of the TCV including non-displayed orders
Statutory Basis for, the Proposed Rule that add liquidity; and (ii) adds or
Securities Exchange Act of 1934 (the Change
‘‘Act’’),1 and Rule 19b–4 thereunder,2 removes an ADV of at least 500,000
notice is hereby given that on July 28, 1. Purpose shares yielding fee codes DM or DT. Fee
2015, EDGA Exchange, Inc. (the The Exchange proposes to: (i) To code DM is applied to non-displayed
‘‘Exchange’’ or ‘‘EDGA’’) filed with the remove fee codes 5, EA, and ER which orders that add liquidity using MidPoint
Securities and Exchange Commission are appended to Internalized Trades; Discretionary Orders 9 and fee code DT
(‘‘Commission’’) the proposed rule and (ii) amend the criteria for the is applied to non-displayed orders that
change as described in Items I, II and III MidPoint Discretionary Order Add remove liquidity using MidPoint
below, which Items have been prepared Volume Tier. Discretionary Orders. Orders that yield
by the Exchange. The Exchange has fee code DM or fee code DT that do not
Fee Codes 5, EA, and ER meet to the criteria of the MidPoint
designated the proposed rule change as
The Exchange proposes to remove fee Discretionary Order Add Volume Tier
one establishing or changing a member
due, fee, or other charge imposed by the codes 5, EA, and ER which are
6 The ‘‘Regular Trading Hours’’ is defined as ‘‘the
Exchange under Section 19(b)(3)(A)(ii) appended to Internalized Trades as well time between 9:30 a.m. and 4:00 p.m. Eastern
of the Act 3 and Rule 19b–4(f)(2) as footnote 13. During Regular Trading Time.’’ See Exchange Rule 1.5(y).
tkelley on DSK3SPTVN1PROD with NOTICES
thereunder,4 which renders the 7 The ‘‘Pre-Opening Session’’ is defined as ‘‘the
5 The term ‘‘Member’’ is defined as ‘‘any time between 8:00 a.m. and 9:30 a.m. Eastern
14 17 registered broker or dealer, or any person associated Time.’’ See Exchange Rule 1.5(r).
CFR 200.30–3(a)(12). 8 The ‘‘Post-Closing Session’’ is defined as ‘‘the
1 15 U.S.C. 78s(b)(1).
with a registered broker or dealer, that has been
admitted to membership in the Exchange. A time between 4:00 p.m. and 8:00 p.m. Eastern
2 17 CFR 240.19b–4.
Member will have the status of a ‘‘member’’ of the Time.’’ See Exchange Rule 1.5(s).
3 15 U.S.C. 78s(b)(3)(A)(ii).
Exchange as that term is defined in Section 3(a)(3) 9 See Exchange Rule 11.8(e) for a description of
4 17 CFR 240.19b–4(f)(2). of the Act.’’ See Exchange Rule 1.5(n). MidPoint Discretionary Orders.
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Document Created: 2015-12-15 12:12:41
Document Modified: 2015-12-15 12:12:41
| 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 47964 |
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