80 FR 68581 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rules 21.2, 21.6, and 21.7, as They Relate to Order Acceptance Time
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 214 (November 5, 2015)
Federal Register Volume 80, Issue 214 (November 5, 2015)
| Page Range | 68581-68583 | |
| FR Document | 2015-28145 |
[Federal Register Volume 80, Number 214 (Thursday, November 5, 2015)] [Notices] [Pages 68581-68583] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-28145] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76320; File No. SR-BATS-2015-92] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rules 21.2, 21.6, and 21.7, as They Relate to Order Acceptance Time October 30, 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 October 28, 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. --------------------------------------------------------------------------- \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). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change The Exchange filed a proposal to amend Rules 21.2, 21.6, and 21.7 to change the time orders will be accepted on the Exchange's options platform (``BATS Options'') from 8:00 a.m. to 7:30 a.m. 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 is proposing to amend Rules 21.2, 21.6, and 21.7 to change the time orders will be accepted on BATS Options from 8:00 a.m. to 7:30 a.m. Currently, the Exchange begins accepting orders at 8:00 a.m. Eastern Time. Orders would then be available for execution as of 9:30 a.m. until 4:00 p.m. Eastern Time.\5\ The Exchange does not propose to amend how it handles orders accepted prior to the market open other than to begin accepting orders at 7:30 a.m. Eastern Time rather than 8:00 a.m. Eastern Time. --------------------------------------------------------------------------- \5\ Option contracts on Fund Shares, as defined in Rule 19.3(i), option contracts on exchange-traded notes including Index-Linked Securities, as defined in Rule 19.3(l), and option contracts on broad-based indexes, as defined in Rule 29.1(j), close as of 4:15 p.m. Eastern Time. See Exchange Rule 21.2(a). --------------------------------------------------------------------------- First, the Exchange proposes to amend Rule 21.2(a) to expressly state that the Exchange will begin accepting orders at 7:30 a.m. Eastern Time, as described in Rule 21.7 and discussed below. The addition of this sentence to Rule 21.2(a) would align the text of the rule with EDGX Exchange, Inc. (``EDGX'') Rule 21.2(a).\6\ --------------------------------------------------------------------------- \6\ The Exchange understands that EDGX is to also file a proposed rule change with the Commission to amend its Rules 21.2, 21.6, and 21.7 to change the time orders will be accepted from 8:00 a.m. to 7:30 a.m. --------------------------------------------------------------------------- Second, the Exchange proposes to amend Rule 21.6(c) to state that orders can be entered into the System starting at 7:30 a.m. Eastern Time. Currently, the Rule 21.6(c) states that orders can be entered into the System from 9:30 a.m. Eastern Time until the market close. While orders will be accepted by the System starting at 7:30 a.m. Eastern Time, they will not be eligible for execution until 9:30 a.m. Eastern Time. The Exchange also proposes to amend Rule 21.6(c) to state that orders received prior to completion of the Exchange's Opening Process will be handled in accordance with Rule 21.7 discussed below. As with the proposed change to Rule 21.2(a) discussed above, the addition of this sentence to Rule 21.6(c) would align the text of the rule with EDGX Rule 21.6(c).\7\ --------------------------------------------------------------------------- \7\ Id. --------------------------------------------------------------------------- Lastly, as amended, Rule 21.7 would state that the Exchange will accept market and limit orders and quotes for inclusion in the opening process beginning at 7:30 a.m. Eastern Time, rather than 8:00 a.m. as is currently the case and will continue to accept market and limit orders and quotes until such time as the Opening Process is initiated in that option series (the ``Order Entry Period''), other than index options.\8\ The Exchange will continue to not accept IOC,\9\ FOK \10\ or WAIT \11\ orders for queuing prior to the completion of the Opening Process. The Exchange will also continue to convert all Intermarket [[Page 68582]] Sweep Orders (``ISOs'') \12\ entered for queuing prior to the completion of the Opening Process into non-ISOs. --------------------------------------------------------------------------- \8\ Rule 21.7 also discusses order acceptance when the primary listing market for the applicable underlying security declares a regulatory trading halt, suspension, or pause with respect to such security (``Regulatory Halt''). The Exchange does not propose to amend the treatment of orders during a Regulatory Halt under Rule 21.7. \9\ See Exchange Rule 21.1(f)(2). \10\ See Exchange Rule 21.1(f)(5). \11\ See Exchange Rule 21.1(f)(4). \12\ See Exchange Rule 21.1(d)(11). --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal to begin accepting orders at 7:30 a.m. is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6(b) of the Act.\13\ In particular, the proposal is consistent with Section 6(b)(5) of the Act \14\ because it is designed to promote just and equitable principles of trade and to remove impediments to and perfect the mechanism of a free and open market and a national market system. The Exchange believes that accepting orders at 7:30 a.m. will benefit investors, the national market system, Members, and the Exchange market by increasing competition for order flow and executions, and thereby spurring product enhancements and lowering prices. The Exchange also notes that other options exchanges currently accept orders prior to 8:00 a.m. Eastern Time \15\ and the proposal would enable the Exchange to directly compete with these exchanges for order flow. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f(b). \14\ 15 U.S.C. 78f(b)(5). \15\ See Nasdaq OMX Systems Hours of Operation, available at http://nasdaqtrader.com/content/TechnicalSupport/nasdaq_sys_hours.pdf (stating that system hours begin at 7:00 a.m. for Nasdaq OMX BX (``BX'') and 7:30 a.m. for Nasdaq OMX PHLX (``PHLX''), and BX Chapter VI, Section 2(a) (stating the System operates and shall be available to accept bids and offers and orders from the time prior to market open specified by the Exchange on its Web site to market close on each business day). See also Hours of Operation of the MIAX Options Exchange (``MIAX'') available at http://www.miaxoptions.com/hours-operation-miax-options-exchange (stating that firms can connect and conduct pre-market activity starting at 7:30 a.m.). --------------------------------------------------------------------------- Lastly, the Exchange believes the proposed additions to Rules 21.2(a) and 21.6(c) are consistent with Section 6(b)(5) of the Act \16\ because it is designed to provide consistent rules across the Exchange and EDGX, thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system. The proposed rule changes would provide greater harmonization between rules of similar purpose on the Exchange and EDGX, resulting in greater uniformity and less burdensome and more efficient regulatory compliance and understanding of Exchange Rules. As such, the proposed rule change would foster cooperation and coordination with persons engaged in facilitating transactions in securities and would remove impediments to and perfect the mechanism of a free and open market and a national market system. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- 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 that is not necessary or appropriate in furtherance of the purposes of the Act. To the contrary, the proposed rule change is a competitive change that is designed to attract additional order flow to the Exchange.\17\ The proposed rule change would, therefore, increase competition by enabling the Exchange to accept orders starting at 7:30 a.m. Eastern Time like its competitors. For all the reasons stated above, the Exchange does not believe that the proposed rule changes will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act, and believes the proposed change will enhance competition. Lastly, the proposed changes to Rules 21.2(a) and 21.6(c) are not designed to address any competitive issues but rather to provide greater harmonization among Exchange and EDGX rules of similar purpose. --------------------------------------------------------------------------- \17\ See supra note 15. --------------------------------------------------------------------------- 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. The Exchange has not received any written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (A) Significantly affect the protection of investors or the public interest; (B) impose any significant burden on competition; and (C) by its terms, become operative for 30 days from the date on which it was filed or such shorter time as the Commission may designate it has become effective pursuant to Section 19(b)(3)(A) of the Act \18\ and paragraph (f)(6) of Rule 19b-4 thereunder,\19\ the Exchange has designated this rule filing as non-controversial. The Exchange has given the Commission written notice of its 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. --------------------------------------------------------------------------- \18\ 15 U.S.C. 78s(b)(3)(A). \19\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- 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: (1) Necessary or appropriate in the public interest; (2) for the protection of investors; or (3) 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 CommentsUse 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 No. SR-BATS-2015-92 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 No. SR-BATS-2015-92. 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 [[Page 68583]] filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File No. SR-BATS-2015-92, and should be submitted on or before November 27, 2015. --------------------------------------------------------------------------- \20\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\20\ Jill M. Peterson, Assistant Secretary. [FR Doc. 2015-28145 Filed 11-4-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 214 / Thursday, November 5, 2015 / Notices 68581
technology and science and to identify 28, 2015, BATS Exchange, Inc. (the not propose to amend how it handles
the tools, techniques, and training ‘‘Exchange’’ or ‘‘BATS’’) filed with the orders accepted prior to the market open
needed to advance agricultural research Securities and Exchange Commission other than to begin accepting orders at
beyond current roadblocks to (‘‘Commission’’) the proposed rule 7:30 a.m. Eastern Time rather than 8:00
innovation. change as described in Items I and II a.m. Eastern Time.
below, which Items have been prepared First, the Exchange proposes to
Questions by the Exchange. The Exchange has amend Rule 21.2(a) to expressly state
Respondents may wish to address the designated this proposal as a ‘‘non- that the Exchange will begin accepting
following questions with regard to the controversial’’ proposed rule change orders at 7:30 a.m. Eastern Time, as
future of agriculture and food systems: pursuant to Section 19(b)(3)(A) of the described in Rule 21.7 and discussed
1. Over the next ten years, what are Act 3 and Rule 19b–4(f)(6)(iii) below. The addition of this sentence to
the most important research gaps that thereunder,4 which renders it effective Rule 21.2(a) would align the text of the
must be addressed to advance upon filing with the Commission. The rule with EDGX Exchange, Inc.
agricultural innovation? Commission is publishing this notice to (‘‘EDGX’’) Rule 21.2(a).6
2. What interdisciplinary agriculture solicit comments on the proposed rule Second, the Exchange proposes to
and food programs successfully impact change from interested persons. amend Rule 21.6(c) to state that orders
agricultural innovation? can be entered into the System starting
3. What elementary, middle, and high I. Self-Regulatory Organization’s at 7:30 a.m. Eastern Time. Currently, the
school outreach programs are successful Statement of the Terms of the Substance Rule 21.6(c) states that orders can be
examples of introducing students to of the Proposed Rule Change entered into the System from 9:30 a.m.
agricultural careers, and what are The Exchange filed a proposal to Eastern Time until the market close.
examples of effective ways to introduce amend Rules 21.2, 21.6, and 21.7 to While orders will be accepted by the
agriculture to suburban and urban change the time orders will be accepted System starting at 7:30 a.m. Eastern
students interested in careers in science, on the Exchange’s options platform Time, they will not be eligible for
technology, engineering, and math (‘‘BATS Options’’) from 8:00 a.m. to execution until 9:30 a.m. Eastern Time.
(STEM)? 7:30 a.m. The Exchange also proposes to amend
4. How can colleges and universities The text of the proposed rule change Rule 21.6(c) to state that orders received
recruit STEM undergraduates into is available at the Exchange’s Web site prior to completion of the Exchange’s
agricultural disciplines? What effect, if at www.batstrading.com, at the Opening Process will be handled in
any, do introductory courses that engage principal office of the Exchange, and at accordance with Rule 21.7 discussed
students in discovery-based research the Commission’s Public Reference below. As with the proposed change to
have for this purpose? Room. Rule 21.2(a) discussed above, the
5. What resources are fundamental to addition of this sentence to Rule 21.6(c)
II. Self-Regulatory Organization’s would align the text of the rule with
addressing agricultural research needs? Statement of the Purpose of, and
6. What further training is needed EDGX Rule 21.6(c).7
Statutory Basis for, the Proposed Rule Lastly, as amended, Rule 21.7 would
among agricultural professionals to take Change
advantage of advances in agriculture state that the Exchange will accept
research? In its filing with the Commission, the market and limit orders and quotes for
7. Is there any additional information, Exchange included statements inclusion in the opening process
not requested above, that you believe concerning the purpose of and basis for beginning at 7:30 a.m. Eastern Time,
OSTP should consider in identifying the proposed rule change and discussed rather than 8:00 a.m. as is currently the
crucial areas of agricultural research? any comments it received on the case and will continue to accept market
proposed rule change. The text of these and limit orders and quotes until such
Ted Wackler, statements may be examined at the time as the Opening Process is initiated
Deputy Chief of Staff and Assistant Director. places specified in Item IV below. The in that option series (the ‘‘Order Entry
[FR Doc. 2015–28289 Filed 11–4–15; 8:45 am] Exchange has prepared summaries, set Period’’), other than index options.8 The
BILLING CODE 3270–F6–P forth in Sections A, B, and C below, of Exchange will continue to not accept
the most significant parts of such IOC,9 FOK 10 or WAIT 11 orders for
statements. queuing prior to the completion of the
SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s Opening Process. The Exchange will
COMMISSION Statement of the Purpose of, and also continue to convert all Intermarket
[Release No. 34–76320; File No. SR–BATS– Statutory Basis for, the Proposed Rule
notes including Index-Linked Securities, as defined
2015–92] Change in Rule 19.3(l), and option contracts on broad-based
indexes, as defined in Rule 29.1(j), close as of 4:15
Self-Regulatory Organizations; BATS 1. Purpose p.m. Eastern Time. See Exchange Rule 21.2(a).
Exchange, Inc.; Notice of Filing and The Exchange is proposing to amend 6 The Exchange understands that EDGX is to also
Immediate Effectiveness of a Proposed Rules 21.2, 21.6, and 21.7 to change the file a proposed rule change with the Commission
to amend its Rules 21.2, 21.6, and 21.7 to change
Rule Change to Rules 21.2, 21.6, and time orders will be accepted on BATS the time orders will be accepted from 8:00 a.m. to
21.7, as They Relate to Order Options from 8:00 a.m. to 7:30 a.m. 7:30 a.m.
Acceptance Time Currently, the Exchange begins 7 Id.
accepting orders at 8:00 a.m. Eastern 8 Rule 21.7 also discusses order acceptance when
jstallworth on DSK7TPTVN1PROD with NOTICES
October 30, 2015. the primary listing market for the applicable
Time. Orders would then be available
Pursuant to Section 19(b)(1) of the for execution as of 9:30 a.m. until 4:00 underlying security declares a regulatory trading
Securities Exchange Act of 1934 (the halt, suspension, or pause with respect to such
p.m. Eastern Time.5 The Exchange does security (‘‘Regulatory Halt’’). The Exchange does
‘‘Act’’),1 and Rule 19b–4 thereunder,2 not propose to amend the treatment of orders
notice is hereby given that on October 3 15U.S.C. 78s(b)(3)(A). during a Regulatory Halt under Rule 21.7.
4 17 9 See Exchange Rule 21.1(f)(2).
CFR 240.19b–4(f)(6)(iii).
1 15 U.S.C. 78s(b)(1). 5 Option contracts on Fund Shares, as defined in 10 See Exchange Rule 21.1(f)(5).
2 17 CFR 240.19b–4. Rule 19.3(i), option contracts on exchange-traded 11 See Exchange Rule 21.1(f)(4).
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![Federal Register / Vol. 80, No. 214 / Thursday, November 5, 2015 / Notices 68583
filing also will be available for (‘‘EDGX Options’’) from 8:00 a.m. to Lastly, as amended, Rule 21.7 would
inspection and copying at the principal 7:30 a.m. state that the Exchange will accept
office of the Exchange. All comments The text of the proposed rule change market and limit orders and quotes for
received will be posted without change; is available at the Exchange’s Web site inclusion in the opening process
the Commission does not edit personal at www.batstrading.com, at the beginning at 7:30 a.m. Eastern Time,
identifying information from principal office of the Exchange, and at rather than 8:00 a.m. as is currently the
submissions. You should submit only the Commission’s Public Reference case and will continue to accept market
information that you wish to make Room. and limit orders and quotes until such
available publicly. All submissions time as the Opening Process is initiated
II. Self-Regulatory Organization’s in that option series (the ‘‘Order Entry
should refer to File No. SR–BATS–
Statement of the Purpose of, and Period’’), other than index options.6 The
2015–92, and should be submitted on or
Statutory Basis for, the Proposed Rule Exchange will continue to not accept
before November 27, 2015.
Change IOC 7 or FOK 8 orders for queuing prior
For the Commission, by the Division of
Trading and Markets, pursuant to delegated In its filing with the Commission, the to the completion of the Opening
authority.20 Exchange included statements Process. The Exchange will also
Jill M. Peterson, concerning the purpose of and basis for continue to convert all Intermarket
the proposed rule change and discussed Sweep Orders (‘‘ISOs’’) 9 entered for
Assistant Secretary.
any comments it received on the queuing prior to the completion of the
[FR Doc. 2015–28145 Filed 11–4–15; 8:45 am]
proposed rule change. The text of these Opening Process into non-ISOs.
BILLING CODE 8011–01–P
statements may be examined at the 2. Statutory Basis
places specified in Item IV below. The
Exchange has prepared summaries, set The Exchange believes that its
SECURITIES AND EXCHANGE proposal to begin accepting orders at
COMMISSION forth in Sections A, B, and C below, of
the most significant parts of such 7:30 a.m. is consistent with the
statements. requirements of the Act and the rules
[Release No. 34–76321; File No. SR–EDGX– and regulations thereunder that are
2015–50] A. Self-Regulatory Organization’s applicable to a national securities
Statement of the Purpose of, and exchange, and, in particular, with the
Self-Regulatory Organizations; EDGX
Statutory Basis for, the Proposed Rule requirements of Section 6(b) of the
Exchange, Inc.; Notice of Filing and
Change Act.10 In particular, the proposal is
Immediate Effectiveness of a Proposed
Rule Change To Amend Rules 21.2, 1. Purpose consistent with Section 6(b)(5) of the
21.6, and 21.7, as They Relate To Order Act 11 because it is designed to promote
The Exchange is proposing to amend just and equitable principles of trade
Acceptance Time Rules 21.2, 21.6, and 21.7 to change the and to remove impediments to and
October 30, 2015. time orders will be accepted on EDGX perfect the mechanism of a free and
Pursuant to Section 19(b)(1) of the Options from 8:00 a.m. to 7:30 a.m. open market and a national market
Securities Exchange Act of 1934 (the Currently, Exchange rules state that the system. The Exchange believes that
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Exchange will begin accepting orders at accepting orders at 7:30 a.m. will benefit
notice is hereby given that on October 8:00 a.m. Eastern Time. Orders would investors, the national market system,
28,2015, EDGX Exchange, Inc. (the then be available for execution as of Members, and the Exchange market by
‘‘Exchange’’ or ‘‘EDGX’’) filed with the 9:30 a.m. until 4:00 p.m. Eastern Time.5 increasing competition for order flow
Securities and Exchange Commission The Exchange does not propose to and executions, and thereby spurring
(‘‘Commission’’) the proposed rule amend how it would handle orders product enhancements and lowering
change as described in Items I and II accepted prior to the market open other prices. The Exchange also notes that
below, which Items have been prepared than to begin accepting orders at 7:30 other options exchanges currently
by the Exchange. The Exchange has a.m. Eastern Time rather than 8:00 a.m. accept orders prior to 8:00 a.m. Eastern
designated this proposal as a ‘‘non- Eastern Time. Time 12 and the proposal would enable
controversial’’ proposed rule change First, the Exchange proposes to
pursuant to Section 19(b)(3)(A) of the amend Rule 21.2(a) to state that the 6 Rule 21.7 also discusses order acceptance when
Act 3 and Rule 19b–4(f)(6)(iii) Exchange will begin accepting orders at the primary listing market for the applicable
7:30 a.m. Eastern Time, as described in underlying security declares a regulatory trading
thereunder,4 which renders it effective halt, suspension, or pause with respect to such
upon filing with the Commission. The Rule 21.7 and discussed below. Second, security (‘‘Regulatory Halt’’). The Exchange does
Commission is publishing this notice to the Exchange proposes to amend Rule not propose to amend the treatment of orders
solicit comments on the proposed rule 21.6(c) to state that orders can be during a Regulatory Halt under Rule 21.7.
7 See Exchange Rule 21.1(f)(2).
change from interested persons. entered into the System starting at 7:30
8 See Exchange Rule 21.1(f)(5).
a.m. Eastern Time. Currently, the Rule 9 See Exchange Rule 21.1(d)(10).
I. Self-Regulatory Organization’s 21.6(c) states that orders can be entered 10 15 U.S.C. 78f(b).
Statement of the Terms of the Substance into the System from 8:00 a.m. Eastern 11 15 U.S.C. 78f(b)(5).
of the Proposed Rule Change Time until the market close. While 12 See Nasdaq OMX Systems Hours of Operation,
The Exchange filed a proposal to orders will be accepted by the System available at http://nasdaqtrader.com/content/
amend Rules 21.2, 21.6, and 21.7 to starting at 7:30 a.m. Eastern Time, they TechnicalSupport/nasdaq_sys_hours.pdf (stating
that system hours begin at 7:00 a.m. for Nasdaq
jstallworth on DSK7TPTVN1PROD with NOTICES
change the time orders will be accepted will not be eligible for execution until
OMX BX (‘‘BX’’) and 7:30 a.m. for Nasdaq OMX
on the Exchange’s options platform 9:30 a.m. Eastern Time. PHLX (‘‘PHLX’’), and BX Chapter VI, Section 2(a)
(stating the System operates and shall be available
5 Option contracts on Fund Shares, as defined in to accept bids and offers and orders from the time
20 17 CFR 200.30–3(a)(12).
1 15
Rule 19.3(i), option contracts on exchange-traded prior to market open specified by the Exchange on
U.S.C. 78s(b)(1). notes including Index-Linked Securities, as defined its Web site to market close on each business day).
2 17 CFR 240.19b–4.
in Rule 19.3(l), and option contracts on broad-based See also Hours of Operation of the MIAX Options
3 15 U.S.C. 78s(b)(3)(A).
indexes, as defined in Rule 29.1(j), close as of 4:15 Exchange (‘‘MIAX’’) available at http://
4 17 CFR 240.19b–4(f)(6)(iii). p.m. Eastern Time. See Exchange Rule 21.2(a). Continued
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Document Created: 2015-12-14 15:03:00
Document Modified: 2015-12-14 15:03:00
| 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 68581 |
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