80 FR 9768 - Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 8.15 Entitled “Imposition of Fines for Minor Violation(s) of Rules”
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 36 (February 24, 2015)
Federal Register Volume 80, Issue 36 (February 24, 2015)
| Page Range | 9768-9770 | |
| FR Document | 2015-03669 |
[Federal Register Volume 80, Number 36 (Tuesday, February 24, 2015)] [Notices] [Pages 9768-9770] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-03669] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74294; File No. SR-BYX-2015-10] Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 8.15 Entitled ``Imposition of Fines for Minor Violation(s) of Rules'' February 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 February 5, 2015, BATS Y-Exchange, Inc. (the ``Exchange'' or ``BYX'') 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 Substance of the Proposed Rule Change The Exchange filed a proposal to amend Rule 8.15 entitled ``Imposition of Fines for Minor Violation(s) of Rules.'' 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 amend Rule 8.15 in order to make it substantively identical to the corresponding rules on EDGX Exchange, Inc. (``EDGX'') and EDGA Exchange, Inc. (``EDGA''), as further described below. Earlier this year, the Exchange and its affiliate, BATS Exchange, Inc. (``BZX''), received approval to effect a merger (the ``Merger'') of the Exchange's parent company, BATS Global Markets, Inc., with Direct Edge Holdings LLC, the indirect parent of EDGX and EDGA (together with BZX, BYX and EDGX, the ``BGM Affiliated Exchanges'').\5\ In the context of the Merger, the BGM Affiliated Exchanges are working to align certain system and regulatory functionality, retaining only intended differences between the BGM Affiliated Exchanges. Thus, the proposal set forth below is intended to amend Rule 8.15 in order to make the rule substantively identical to corresponding rules on EDGA and EDGX related to minor violations of exchange rules in order to provide a consistent regulatory approach across each of the BGM Affiliated Exchanges. --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 71375 (January 23, 2014), 79 FR 4771 (January 29, 2014) (SR-BATS-2013-059; SR-BYX-2013- 039). --------------------------------------------------------------------------- Currently, Rule 8.15(a) provides that, in lieu of commencing a disciplinary [[Page 9769]] proceeding as described in Rules 8.1 through 8.13, the Exchange may, subject to the requirements set forth in this Rule, impose a fine, not to exceed $2,500, on any Member, associated person of a Member, or registered or non-registered employee of a Member, for any violation of a Rule of the Exchange, which violation the Exchange shall have determined is minor in nature. The Exchange is proposing to add language in order to make Rule 8.15(a) and Interpretation and Policy .01 to Rule 8.15 identical to the corresponding EDGA and EDGX rules.\6\ Specifically, the Exchange is proposing that the Exchange may, if no exceptional circumstances are present, impose a fine based upon a determination that there exists a pattern or practice of violative conduct. As proposed, the Exchange also may aggregate similar violations generally if the conduct was unintentional, there was no injury to public investors, or the violations resulted from a single systemic problem or cause that has been corrected. --------------------------------------------------------------------------- \6\ See EDGX Rule 8.15(a) and Interpretation and Policy .01 to Rule 8.15 and EDGA Rule 8.15(a) and Interpretation and Policy .01 to Rule 8.15. --------------------------------------------------------------------------- Currently, under Interpretation and Policy .01 to Rule 8.15, the Exchange fines individuals $100, $300, and $500 and Member firms $500, $1,000, and $2,500 for their first, second, and third time fined under Rule 8.15 within a rolling 12-month period, respectively, for the following violations of Exchange rules: (a) Rule 4.2 and Interpretation and Policy thereunder requiring the submission of responses to Exchange requests for trading data within a specified time period; (b) Rule 11.19 requirement to identify short sale orders as such; and (c) Rule 11.20 requirement to comply with locked and crossed market rules. The Exchange is proposing to add two additional instances to the fine structure described above. These additional instances include: (1) Rule 3.5 Advertising Practices; and (2) Rule 12.11 Interpretation and Policy .01 and Exchange Act Rule 604--Failure to properly display limit orders.\7\ --------------------------------------------------------------------------- \7\ The Exchange notes that these proposed changes would make the Exchange's Rule 8.15 substantively identical to the corresponding EDGA and EDGX rules based on filings SR-EDGA-2015-11 and SR-EDGX-2015-10. Such filings propose to remove paragraph (d) of Interpretation and Policy .01 to both EDGA and EDGX rules 8.15. The Exchange also notes that BZX intends to file a proposal very similar to this proposal that will align the rules related to fines for minor violation of exchange rules across each of the BGM Affiliated Exchanges. --------------------------------------------------------------------------- The Exchange is also proposing to make several non-substantive changes to Interpretation and Policy .01 to Rule 8.15. First, the Exchange is proposing to change the numbering within the rule to reflect the additions described above. Second, the Exchange is proposing to change the phrase ``limit orders'' in paragraph (e) of Interpretation and Policy .01 to Rule 8.15 to ``quotations.'' The Exchange believes that this change is non-substantive because, in this instance, the terms limit orders and quotations are interchangeable. Paragraph (e) is referring to the obligation of a Market Maker under Rule 11.8 to maintain continuous liquidity of both buy and sell orders, which are referred to as quotes or quotations in Rule 11.8, at certain prices. Based on Exchange functionality, the only way to enter priced orders that could meet such quotation obligations would be through use of limit orders. As such, the Exchange believes that the proposed change is non-substantive, makes the rule more clear, and more accurately reflects the language used in Exchange Rule 11.8. Further, the change would make the rule text identical to that of EDGA and EDGX. 2. Statutory Basis The Exchange believes that the rule change proposed in this submission 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.\8\ Specifically, the proposed change is consistent with Section 6(b)(5) of the Act,\9\ because it is designed to promote just and equitable principles of trade, to remove impediments to, and perfect the mechanism of, a free and open market and a national market system, and, in general, to protect investors and the public interest. As mentioned above, the proposed rule changes, combined with the planned filing for BZX,\10\ would allow the BGM Affiliated Exchanges to provide a consistent set of rules as it relates to the imposition of fines for minor violations of rules across each of the exchanges. Consistent rules, in turn, will simplify the regulatory requirements for Members of the Exchange that are also participants on BZX, EDGA, and/or EDGX. The proposed rule change would provide greater harmonization between rules of similar purpose on the BGM Affiliated Exchanges, resulting in greater uniformity and less burdensome and more efficient regulatory compliance. 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. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). \10\ See supra note 7. --------------------------------------------------------------------------- Specifically, the changes to Rule 8.15(a) and the addition of new paragraphs (d) and (e) to Interpretation and Policy .01 of Rule 8.15 will provide the Exchange with additional ways to handle related minor violations as well as providing the Exchange with the ability to handle other rule violations which it believes to be minor under Rule 8.15. The Exchange believes that, in addition to the benefits to Members described above, the proposal will enhance the Exchange's ability to efficiently regulate its Members, meaning that the proposed rule change is equitable and will promote fairness in the market place. Further, the Exchange believes that the proposal is consistent with Sections 6(b)(1) and 6(b)(6) of the Act \11\ which require that the rules of an exchange enforce compliance with, and provide appropriate discipline for, violations of the Commission and Exchange rules. The Exchange also believes that the proposal is consistent with the public interest, the protection of investors, or otherwise in furtherance of the purposes of the Act because the proposal helps to strengthen the Exchange's ability to carry out its oversight and enforcement responsibilities as a self-regulatory organization in cases where full disciplinary proceedings are unsuitable in view of the minor nature of a particular violation. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b)(1) and 78f(b)(6). --------------------------------------------------------------------------- Finally, the Exchange believes that the non-substantive changes discussed above will contribute to the protection of investors and the public interest by helping to avoid confusion with respect to Exchange rules. 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 not necessary or appropriate in furtherance of the purposes of the act. To the contrary, allowing the Exchange to implement substantively identical rules related to the imposition of fines for minor violations of rules across each of the BGM Affiliated Exchanges does not present any competitive issues, but rather is designed to provide greater harmonization among Exchange, BZX, EDGA, and EDGX rules of similar purpose, resulting in less burdensome and more efficient regulatory compliance for common members of the [[Page 9770]] BGM Affiliated Exchanges and an enhanced ability of the BGM Affiliated Exchanges to fairly and efficiently regulate members, which will further enhance competition. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \12\ and paragraph of Rule 19b-4(f)(6) thereunder.\13\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 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 necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposal 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 No. SR-BYX-2015-10 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 No. SR-BYX-2015-10. 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 No. SR-BYX-2015-10 and should be submitted on or before March 17, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\14\ --------------------------------------------------------------------------- \14\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-03669 Filed 2-23-15; 8:45 am] BILLING CODE 8011-01-P
![9768 Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices
are based on services provided that are securities of one or more investment I. Self-Regulatory Organization’s
in addition to, rather than duplicative companies for short-term cash Statement of the Terms of Substance of
of, services provided under the advisory management purposes or (ii) engage in the Proposed Rule Change
contract(s) of any Underlying Fund in inter-fund borrowing and lending The Exchange filed a proposal to
which the Fund of Funds may invest. transactions. amend Rule 8.15 entitled ‘‘Imposition of
Such finding, and the basis upon which Fines for Minor Violation(s) of Rules.’’
the finding was made, will be recorded B. Other Investments by Section
12(d)(1)(G) Funds of Funds The text of the proposed rule change is
fully in the minute books of the available at the Exchange’s Web site at
appropriate Fund of Funds. Applicants agree that the order www.batstrading.com, at the principal
10. The Adviser will waive fees granting the requested relief to permit office of the Exchange, and at the
otherwise payable to it by a Fund of Section 12(d)(1)(G) Funds of Funds to Commission’s Public Reference Room.
Funds in an amount at least equal to any invest in Other Investments shall be
compensation (including fees received subject to the following condition: II. Self-Regulatory Organization’s
pursuant to any plan adopted by an Statement of the Purpose of, and
1. Applicants will comply with all Statutory Basis for, the Proposed Rule
Unaffiliated Investment Company
provisions of rule 12d1–2 under the Change
pursuant to rule 12b-1 under the 1940
1940 Act, except for paragraph (a)(2) to
Act) received from an Unaffiliated Fund In its filing with the Commission, the
the extent that it restricts any Section
by the Adviser, or an affiliated person Exchange included statements
12(d)(1)(G) Fund of Funds from
of the Adviser, other than any advisory concerning the purpose of and basis for
investing in Other Investments as
fees paid to the Adviser or its affiliated the proposed rule change and discussed
described in the application.
person by the Unaffiliated Investment any comments it received on the
Company, in connection with the For the Commission, by the Division of proposed rule change. The text of these
investment by the Fund of Funds in the Investment Management, pursuant to
delegated authority.
statements may be examined at the
Unaffiliated Fund. Any Sub-Adviser places specified in Item IV below. The
will waive fees otherwise payable to the Brent J. Fields,
Exchange has prepared summaries, set
Sub-Adviser, directly or indirectly, by Secretary. forth in Sections A, B, and C below, of
the Fund of Funds in an amount at least [FR Doc. 2015–03689 Filed 2–23–15; 8:45 am] the most significant parts of such
equal to any compensation received by BILLING CODE 8011–01–P statements.
the Sub-Adviser, or an affiliated person
of the Sub-Adviser, from an Unaffiliated A. Self-Regulatory Organization’s
Fund, other than any advisory fees paid SECURITIES AND EXCHANGE Statement of the Purpose of, and
to the Sub-Adviser or its affiliated COMMISSION Statutory Basis for, the Proposed Rule
person by the Unaffiliated Investment Change
Company, in connection with the [Release No. 34–74294; File No. SR–BYX– 1. Purpose
investment by the Fund of Funds in the 2015–10]
Unaffiliated Fund made at the direction The Exchange proposes to amend
of the Sub-Adviser. In the event that the Self-Regulatory Organizations; BATS Rule 8.15 in order to make it
Sub-Adviser waives fees, the benefit of Y–Exchange, Inc.; Notice of Filing and substantively identical to the
the waiver will be passed through to the Immediate Effectiveness of a Proposed corresponding rules on EDGX Exchange,
Fund of Funds. Rule Change To Amend Rule 8.15 Inc. (‘‘EDGX’’) and EDGA Exchange, Inc.
11. Any sales charges and/or service Entitled ‘‘Imposition of Fines for Minor (‘‘EDGA’’), as further described below.
fees charged with respect to shares of a Violation(s) of Rules’’ Earlier this year, the Exchange and its
Fund of Funds will not exceed the affiliate, BATS Exchange, Inc. (‘‘BZX’’),
limits applicable to funds of funds set February 18, 2015. received approval to effect a merger (the
forth in NASD Conduct Rule 2830. Pursuant to Section 19(b)(1) of the ‘‘Merger’’) of the Exchange’s parent
12. No Underlying Fund will acquire Securities Exchange Act of 1934 (the company, BATS Global Markets, Inc.,
securities of any other investment ‘‘Act’’),1 and Rule 19b–4 thereunder,2 with Direct Edge Holdings LLC, the
company or company relying on section notice is hereby given that on February indirect parent of EDGX and EDGA
3(c)(1) or 3(c)(7) of the 1940 Act, in 5, 2015, BATS Y–Exchange, Inc. (the (together with BZX, BYX and EDGX, the
excess of the limits contained in section ‘‘Exchange’’ or ‘‘BYX’’) filed with the ‘‘BGM Affiliated Exchanges’’).5 In the
12(d)(1)(A) of the 1940 Act, except to Securities and Exchange Commission context of the Merger, the BGM
the extent that such Underlying Fund: (‘‘Commission’’) the proposed rule Affiliated Exchanges are working to
(a) Acquires such securities in change as described in Items I and II align certain system and regulatory
compliance with section 12(d)(1)(E) of below, which Items have been prepared functionality, retaining only intended
the 1940 Act and either is an Affiliated by the Exchange. The Exchange has differences between the BGM Affiliated
Fund or is in the same ‘‘group of Exchanges. Thus, the proposal set forth
designated this proposal as a ‘‘non-
investment companies’’ as its below is intended to amend Rule 8.15
controversial’’ proposed rule change
corresponding master fund; (b) receives in order to make the rule substantively
pursuant to Section 19(b)(3)(A) of the
securities of another investment identical to corresponding rules on
Act 3 and Rule 19b–4(f)(6)(iii)
company as a dividend or as a result of EDGA and EDGX related to minor
thereunder,4 which renders it effective
a plan of reorganization of a company violations of exchange rules in order to
upon filing with the Commission. The
(other than a plan devised for the provide a consistent regulatory
Commission is publishing this notice to
approach across each of the BGM
tkelley on DSK3SPTVN1PROD with NOTICES
purpose of evading section 12(d)(1) of solicit comments on the proposed rule
the 1940 Act); or (c) acquires (or is Affiliated Exchanges.
change from interested persons. Currently, Rule 8.15(a) provides that,
deemed to have acquired) securities of
another investment company pursuant in lieu of commencing a disciplinary
1 15 U.S.C. 78s(b)(1).
to exemptive relief from the 2 17 CFR 240.19b–4. 5 See Securities Exchange Act Release No. 71375
Commission permitting such 3 15 U.S.C. 78s(b)(3)(A).
(January 23, 2014), 79 FR 4771 (January 29, 2014)
Underlying Fund to: (i) Acquire 4 17 CFR 240.19b–4(f)(6)(iii). (SR–BATS–2013–059; SR–BYX–2013–039).
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![9770 Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices
BGM Affiliated Exchanges and an only one method. The Commission will 19b–4 thereunder,2 a proposed rule
enhanced ability of the BGM Affiliated post all comments on the Commission’s change to amend Exchange Rule 13—
Exchanges to fairly and efficiently Internet Web site (http://www.sec.gov/ Equities and other related Exchange
regulate members, which will further rules/sro.shtml). Copies of the rules governing order types and order
enhance competition. submission, all subsequent modifiers. The proposed rule change
amendments, all written statements was published in the Federal Register
C. Self-Regulatory Organization’s with respect to the proposed rule on November 20, 2014.3 On November
Statement on Comments on the change that are filed with the 14, 2014, the Exchange submitted
Proposed Rule Change Received From Commission, and all written Partial Amendment No. 1 to the
Members, Participants or Others communications relating to the Commission.4 On December 22, 2014,
The Exchange has neither solicited proposed rule change between the the Exchange submitted Partial
nor received written comments on the Commission and any person, other than Amendment No. 2 to the Commission.
proposed rule change. those that may be withheld from the On December 22, 2014, pursuant to
public in accordance with the section 19(b)(2) of the Act,5 the
III. Date of Effectiveness of the
provisions of 5 U.S.C. 552, will be Commission designated a longer period
Proposed Rule Change and Timing for
available for Web site viewing and within which to approve the proposed
Commission Action
printing in the Commission’s Public rule change, disapprove the proposed
Because the foregoing proposed rule Reference Room, 100 F Street NE., rule change, or institute proceedings to
change does not: (i) Significantly affect Washington, DC 20549, on official determine whether to disapprove the
the protection of investors or the public business days between the hours of proposed rule change.6 The Commission
interest; (ii) impose any significant 10:00 a.m. and 3:00 p.m. Copies of such has received no other comment on the
burden on competition; and (iii) become filing will also be available for proposal. This order institutes
operative for 30 days from the date on inspection and copying at the principal proceedings under section 19(b)(2)(B) of
which it was filed, or such shorter time office of the Exchange. All comments the Act 7 to determine whether to
as the Commission may designate, it has received will be posted without change; approve or disapprove the proposal.
become effective pursuant to Section the Commission does not edit personal
19(b)(3)(A) of the Act 12 and paragraph identifying information from II. Description of the Proposal
of Rule 19b–4(f)(6) thereunder.13 submissions. You should submit only The Exchange proposes to amend
At any time within 60 days of the information that you wish to make Exchange Rule 13—Equities by re-
filing of the proposed rule change, the available publicly. All submissions grouping and re-numbering existing
Commission summarily may should refer to File No. SR–BYX–2015– order types and order modifiers. The
temporarily suspend such rule change if 10 and should be submitted on or before Exchange also proposes to make
it appears to the Commission that such March 17, 2015. changes to certain order types and order
action is necessary or appropriate in the For the Commission, by the Division of modifiers. In addition, the Exchange
public interest, for the protection of Trading and Markets, pursuant to delegated proposes to amend certain rules to
investors, or otherwise in furtherance of authority.14 remove references to functionality that
the purposes of the Act. Brent J. Fields, is no longer operative. Under the
IV. Solicitation of Comments Secretary. proposal, Rule 13—Equities would be
[FR Doc. 2015–03669 Filed 2–23–15; 8:45 am] reorganized into six categories: (a)
Interested persons are invited to Primary order types; (b) time in force
BILLING CODE 8011–01–P
submit written data, views and modifiers; (c) auction-only orders; (d)
arguments concerning the foregoing, orders with instructions not to display
including whether the proposal is SECURITIES AND EXCHANGE all or a portion of the order; (e) orders
consistent with the Act. Comments may COMMISSION with instructions not to route; and (f)
be submitted by any of the following additional orders and modifiers.
methods: [Release No. 34–74298; File No. SR–
NYSEMKT–2014–95] A. Primary Order Types
Electronic Comments
Self-Regulatory Organizations; NYSE Proposed section (a) of Rule 13—
• Use the Commission’s Internet Equities would set forth two primary
comment form (http://www.sec.gov/ MKT LLC; Order Instituting
Proceedings to Determine Whether to order types—Market Orders and Limit
rules/sro.shtml); or Orders—and specify which orders are
• Send an email to rule-comments@ Approve or Disapprove a Proposed
Rule Change, as Modified by Partial eligible for automatic executions. The
sec.gov. Please include File No. SR–
Amendment No. 1 and Partial Exchange proposes to delete the current
BYX–2015–10 on the subject line.
Amendment No. 2, Amending Rule definition of ‘‘Auto Ex Order’’ and
Paper Comments 13—Equities and Related Rules
2 17 CFR 240.19b–4.
• Send paper comments in triplicate Governing Order Types and Modifiers 3 See Securities Exchange Act Release No. 73593
to Brent J. Fields, Secretary, Securities February 18, 2015. (Nov. 14, 2014), 79 FR 69153 (‘‘Notice’’).
and Exchange Commission, 100 F Street 4 The Exchange also submitted a copy of the
NE., Washington, DC 20549–1090. I. Introduction amendment to the public comment file. See Letter
from Sudhir Bhattacharyya, Vice President, New
All submissions should refer to File No. On October 31, 2014, NYSE MKT LLC York Stock Exchange, to Kevin M. O’Neill, Deputy
SR–BYX–2015–10. This file number (‘‘NYSE MKT’’ or ‘‘Exchange’’) filed Secretary, Commission (Nov. 14, 2014).
tkelley on DSK3SPTVN1PROD with NOTICES
should be included on the subject line with the Securities and Exchange 5 15 U.S.C. 78s(b)(2).
if email is used. To help the Commission (‘‘Commission’’), pursuant 6 See Securities Exchange Act Release No. 73913,
Commission process and review your to section 19(b)(1) of the Securities 79 FR 78531 (Dec. 30, 2014). The Commission
designated February 18, 2015, as the date by which
comments more efficiently, please use Exchange Act of 1934 (‘‘Act’’) 1 and Rule it should approve, disapprove, or institute
proceedings to determine whether to disapprove the
12 15 U.S.C. 78s(b)(3)(A). 14 17 CFR 200.30–3(a)(12). proposed rule change.
13 17 CFR 240.19b–4. 1 15 U.S.C. 78s(b)(1). 7 15 U.S.C. 78s(b)(2)(B).
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Document Created: 2015-12-18 13:23:28
Document Modified: 2015-12-18 13:23:28
| 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 9768 |
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