81 FR 20709 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Changes in Connection With the Operation of the Exchange's Equity Options Platform
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 68 (April 8, 2016)
Federal Register Volume 81, Issue 68 (April 8, 2016)
| Page Range | 20709-20711 | |
| FR Document | 2016-08044 |
[Federal Register Volume 81, Number 68 (Friday, April 8, 2016)] [Notices] [Pages 20709-20711] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-08044] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77509; File No. SR-BatsBZX-2016-02] Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Changes in Connection With the Operation of the Exchange's Equity Options Platform April 4, 2016. 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 March 24, 2016, Bats BZX Exchange, Inc. (the ``Exchange'' or ``BZX'') 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 21.15, Data Dissemination, in connection with the operation BZX Options, as described below. In connection with this change the Exchange also proposes to adopt definitions of ``Priority Customer'' and ``Priority Customer Order'' in Rule 16.1. Finally, the Exchange also proposes a related change to Rule 20.6. 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 [[Page 20710]] 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 modify Rule 21.15, Data Dissemination, which sets forth information regarding quotations and data feeds provided by BZX Options. Specifically, the Exchange proposes to adopt new paragraph (c) to provide information regarding the existence of Priority Customer interest on the BZX order book (``BZX Book''). In connection with this change the Exchange also proposes to adopt definitions of ``Priority Customer'' and ``Priority Customer Order'' in Rule 16.1. Finally, the Exchange also proposes a related change to Rule 20.6. As proposed, the Exchange will make available to all market participants through the Options Price Reporting Authority (``OPRA'') an indication that there is Priority Customer interest included in the best bid or offer (``BBO'') disseminated by the Exchange. Further, the Exchange will identify Priority Customer orders and trades as such on messages disseminated by the Exchange through its Multicast PITCH data feed. The proposed rule is similar to and based on Rule 21.15(c) of the Exchange's affiliated options exchange, the options platform operated by Bats EDGX Exchange, Inc. (``EDGX Options''). The Exchange notes that EDGX Options Rule 21.15(c) is identical to the proposed rule with the exception that EDGX Options Rule 21.15(c) currently refers to Customers, which term also includes broker-dealers and Public Customers, rather than Priority Customers as proposed by the Exchange. The Exchange notes that simultaneous with this proposal, Bats EDGX Exchange, Inc. is filing a proposal to modify Rule 21.15 to change the reference in such rule to ``Priority Customer'' and to adopt definitions of ``Priority Customer'' and ``Priority Customer Order.'' \5\ --------------------------------------------------------------------------- \5\ See SR-BatsEDGX-2016-03, available at: http://www.batstrading.com/regulation/rule_filings/edgx/. --------------------------------------------------------------------------- In addition to the change described above, the Exchange proposes to adopt definitions of ``Priority Customer'' and ``Priority Customer Order'' in Rule 16.1 and to use such defined terms in proposed Rule 21.15(c). As proposed, a Priority Customer would mean any person or entity that is not: (A) a broker or dealer in securities; or (B) a Professional.\6\ In turn, a Priority Customer Order would means an order for the account of a Priority Customer. The proposed definitions are similar to and based on the definitions of the same terms set forth in MIAX Rule 100. The Exchange proposes to adopt these new definitions in new paragraph (a)(45) and to re-number existing paragraphs (a)(45) through (a)(47) as paragraphs (a)(46) through (a)(48). In addition, because the defined term ``Public Customer Order'' is not currently utilized in Exchange Rules, the Exchange proposes to delete this definition, which is currently contained in paragraph (a)(48). --------------------------------------------------------------------------- \6\ Pursuant to Rule 16.1(a)(45) (proposed to be renumbered as 16.1(a)(46)), the Exchange defines a ``Professional'' as any person or entity that (A) is not a broker or dealer in securities, and (B) places more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s). --------------------------------------------------------------------------- The Exchange proposes to adopt the definition of Priority Customer to exclude both broker-dealers and Professionals. This change is consistent with the Exchange's fee schedule, which already excludes Professionals from the definition of the term Customer for purposes of pricing on the Exchange.\7\ --------------------------------------------------------------------------- \7\ See the BZX Options fee schedule available at: http://www.batsoptions.com/support/fee_schedule/bzx. As defined on the fee schedule, a ``Customer'' is synonymous with the proposed term Priority Customer in the Exchange's Rules as the definition excludes both broker dealers and Professionals as defined in BZX Rule 16.1. --------------------------------------------------------------------------- In addition to the proposed changes described above, the Exchange also proposes to modify Rule 20.6(a)(1) to use the defined term of ``Professional'' rather than the term ``Professional Customer,'' which is not defined in Rule 16.1. 2. Statutory Basis The Exchange believes that its proposal 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\ In particular, the proposal is consistent with Section 6(b)(5) of the Act \9\ because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, 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. The proposed rule change will allow the Exchange to provide information that is provided by other options exchanges.\10\ Equivalent information from the Exchange will enable market participants to participate on the Exchange in the same way that they participate on other options exchanges. In particular, the indication that Priority Customer interest exists on the BZX Book might increase the likelihood of executions for such orders. As set forth above, proposed Exchange Rule 21.15(c) is based on EDGX Rule 21.15(c) and will be identical to such rule following a modification by EDGX Options to instead use the term Priority Customer rather than Customer. Further, the definitions of Priority Customer and Priority Customer Order are similar to and based on the definitions of the same terms set forth in MIAX Rule 100. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). \10\ See EDGX Rule 21.15; see also MIAX Rule 506(c); Securities Exchange Act Release No. 62399 (June 28, 2010), 75 FR 38587 (July 2, 2010) (SR-ISE-2010-34) (Order Approving Proposed Rule Change to Fees for the ISE Order Feed) (describing that information is contained on individual limit orders indicating whether such orders are customer orders). --------------------------------------------------------------------------- (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. The proposed rule change does not introduce any burden on competition, but rather, would allow the Exchange to provide information provided by other option exchanges regarding the existence of customer interest on the order book.\11\ Similarly, the proposed definitions of Priority Customer and Priority Customer Order would align the Exchange's rules more closely with those of other options exchanges. --------------------------------------------------------------------------- \11\ See id. --------------------------------------------------------------------------- (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 written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become [[Page 20711]] operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-4(f)(6) thereunder.\13\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) under the Act \14\ normally does not become operative for 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) \15\ permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiver of the 30-day operative delay is appropriate because it will allow the Exchange to immediately begin providing information regarding the existence of a Priority Customer on the order book that is similar to information provided by other options exchanges. The Commission also believes that it is appropriate for the Exchange to adopt definitions of Priority Customer and Priority Customer Order as they are similar to and based on MIAX Rule 100. Accordingly, the proposed definitions are similar to existing rules of other options exchanges and do not raise any new policy issues. Based on the foregoing, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest.\16\ The Commission hereby grants the Exchange's request and designates the proposal operative upon filing. --------------------------------------------------------------------------- \14\ 17 CFR 240.19b-4(f)(6). \15\ 17 CFR 240.19b-4(f)(6)(iii). \16\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic 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-BatsBZX-2016-02 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-BatsBZX-2016-02. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing will also be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-BatsBZX-2016-02 and should be submitted on or before April 29, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-08044 Filed 4-7-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 68 / Friday, April 8, 2016 / Notices 20709
whether the amount of securities board of directors or trustees of each SECURITIES AND EXCHANGE
purchased by the Fund, or its respective Investing Management Company COMMISSION
Master Fund, in Affiliated including a majority of the disinterested
[Release No. 34–77509; File No. SR–
Underwritings and the amount directors or trustees, will find that the BatsBZX–2016–02]
purchased directly from an advisory fees charged under such
Underwriting Affiliate have changed contract are based on services provided Self-Regulatory Organizations; Bats
significantly from prior years. The that will be in addition to, rather than BZX Exchange, Inc.; Notice of Filing
Board will take any appropriate actions duplicative of, the services provided and Immediate Effectiveness of
based on its review, including, if under the advisory contract(s) of any Proposed Rule Changes in Connection
appropriate, the institution of With the Operation of the Exchange’s
Fund, or its respective Master Fund, in
procedures designed to ensure that Equity Options Platform
which the Investing Management
purchases of securities in Affiliated
Underwritings are in the best interest of Company may invest. These findings April 4, 2016.
shareholders of the Fund. and their basis will be fully recorded in Pursuant to Section 19(b)(1) of the
8. Each Fund, or its respective Master the minute books of the appropriate Securities Exchange Act of 1934 (the
Fund, will maintain and preserve Investing Management Company. ‘‘Act’’),1 and Rule 19b–4 thereunder,2
permanently in an easily accessible 11. Any sales charges and/or service notice is hereby given that on March 24,
place a written copy of the procedures fees charged with respect to shares of a 2016, Bats BZX Exchange, Inc. (the
described in the preceding condition, Fund of Funds will not exceed the ‘‘Exchange’’ or ‘‘BZX’’) filed with the
and any modifications to such limits applicable to a fund of funds as Securities and Exchange Commission
procedures, and will maintain and set forth in NASD Conduct Rule 2830. (‘‘Commission’’) the proposed rule
preserve for a period of not less than six change as described in Items I and II
years from the end of the fiscal year in 12. No Fund, or its respective Master
below, which Items have been prepared
which any purchase in an Affiliated Fund, will acquire securities of an
by the Exchange. The Exchange has
Underwriting occurred, the first two investment company or company designated this proposal as a ‘‘non-
years in an easily accessible place, a relying on section 3(c)(1) or 3(c)(7) of controversial’’ proposed rule change
written record of each purchase of the Act in excess of the limits contained pursuant to Section 19(b)(3)(A) of the
securities in Affiliated Underwritings in section 12(d)(1)(A) of the Act, except Act 3 and Rule 19b–4(f)(6)(iii)
once an investment by a Fund of Funds to the extent (i) the Fund, or its thereunder,4 which renders it effective
in the securities of the Fund exceeds the respective Master Fund, acquires upon filing with the Commission. The
limit of section 12(d)(1)(A)(i) of the Act, securities of another investment Commission is publishing this notice to
setting forth from whom the securities company pursuant to exemptive relief solicit comments on the proposed rule
were acquired, the identity of the from the Commission permitting the change from interested persons.
underwriting syndicate’s members, the Fund, or its respective Master Fund, to
terms of the purchase, and the I. Self-Regulatory Organization’s
acquire securities of one or more
information or materials upon which Statement of the Terms of Substance of
investment companies for short-term
the Board’s determinations were made. the Proposed Rule Change
cash management purposes, (ii) the
9. Before investing in a Fund in The Exchange filed a proposal to
Fund acquires securities of the Master
excess of the limit in section amend Rule 21.15, Data Dissemination,
Fund pursuant to the Master-Feeder
12(d)(1)(A), a Fund of Funds and the in connection with the operation BZX
Trust will execute a FOF Participation Relief, or (iii) the Fund invests in a
Wholly-Owned Subsidiary that is a Options, as described below. In
Agreement stating, without limitation, connection with this change the
that their respective boards of directors wholly-owned and controlled
subsidiary of the Fund (or its respective Exchange also proposes to adopt
or trustees and their investment definitions of ‘‘Priority Customer’’ and
advisers, or trustee and Sponsor, as Master Fund) as described in the
‘‘Priority Customer Order’’ in Rule 16.1.
applicable, understand the terms and Application. Further, no Wholly-Owned
Finally, the Exchange also proposes a
conditions of the order, and agree to Subsidiary will acquire securities of any related change to Rule 20.6.
fulfill their responsibilities under the other investment company or company The text of the proposed rule change
order. At the time of its investment in relying on section 3(c)(1) or 3(c)(7) of is available at the Exchange’s Web site
Shares of a Fund in excess of the limit the Act other than money market funds at www.batstrading.com, at the
in section 12(d)(1)(A)(i), a Fund of that comply with rule 2a–7 for short- principal office of the Exchange, and at
Funds will notify the Fund of the term cash management purposes. the Commission’s Public Reference
investment. At such time, the Fund of Room.
For the Commission, by the Division of
Funds will also transmit to the Fund a
Investment Management, under delegated II. Self-Regulatory Organization’s
list of the names of each Fund of Funds
authority. Statement of the Purpose of, and
Affiliate and Underwriting Affiliate. The
Fund of Funds will notify the Fund of Robert W. Errett, Statutory Basis for, the Proposed Rule
any changes to the list of the names as Deputy Secretary. Change
soon as reasonably practicable after a [FR Doc. 2016–08047 Filed 4–7–16; 8:45 am] In its filing with the Commission, the
change occurs. The Fund and the Fund BILLING CODE 8011–01–P Exchange included statements
of Funds will maintain and preserve a concerning the purpose of and basis for
mstockstill on DSK4VPTVN1PROD with NOTICES
copy of the order, the FOF Participation the proposed rule change and discussed
Agreement, and the list with any any comments it received on the
updated information for the duration of proposed rule change. The text of these
the investment and for a period of not
less than six years thereafter, the first 1 15 U.S.C. 78s(b)(1).
two years in an easily accessible place. 2 17 CFR 240.19b–4.
10. Before approving any advisory 3 15 U.S.C. 78s(b)(3)(A).
contract under section 15 of the Act, the 4 17 CFR 240.19b–4(f)(6)(iii).
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![Federal Register / Vol. 81, No. 68 / Friday, April 8, 2016 / Notices 20711
operative for 30 days from the date on to determine whether the proposed rule For the Commission, by the Division of
which it was filed, or such shorter time should be approved or disapproved. Trading and Markets, pursuant to delegated
as the Commission may designate, the authority.17
proposed rule change has become IV. Solicitation of Comments Robert W. Errett,
effective pursuant to Section 19(b)(3)(A) Deputy Secretary.
Interested persons are invited to
of the Act 12 and Rule 19b–4(f)(6) submit written data, views, and
[FR Doc. 2016–08044 Filed 4–7–16; 8:45 am]
thereunder.13 BILLING CODE 8011–01–P
A proposed rule change filed under arguments concerning the foregoing,
Rule 19b–4(f)(6) under the Act 14 including whether the proposed rule
normally does not become operative for change is consistent with the Act. SECURITIES AND EXCHANGE
30 days after the date of filing. However, Comments may be submitted by any of COMMISSION
Rule 19b–4(f)(6)(iii) 15 permits the the following methods:
[Release No. 34–77508; File No. SR–
Commission to designate a shorter time Electronic Comments BatsEDGX–2016–03]
if such action is consistent with the
protection of investors and the public • Use the Commission’s Internet Self-Regulatory Organizations; Bats
interest. The Exchange has asked the comment form (http://www.sec.gov/ EDGX Exchange, Inc.; Notice of Filing
Commission to waive the 30-day rules/sro.shtml); or and Immediate Effectiveness of
operative delay so that the proposal may Proposed Rule Changes in Connection
• Send an email to rule-comments@
become operative immediately upon With the Operation of the Exchange’s
filing. The Commission believes that sec.gov. Please include File Number SR–
Equity Options Platform
waiver of the 30-day operative delay is BatsBZX–2016–02 on the subject line.
appropriate because it will allow the April 4, 2016.
Paper Comments
Exchange to immediately begin Pursuant to Section 19(b)(1) of the
providing information regarding the • Send paper comments in triplicate Securities Exchange Act of 1934 (the
existence of a Priority Customer on the to Secretary, Securities and Exchange ‘‘Act’’),1 and Rule 19b–4 thereunder,2
order book that is similar to information Commission, 100 F Street NE., notice is hereby given that on March 24,
provided by other options exchanges. Washington, DC 20549–1090. 2016, Bats EDGX Exchange, Inc. (the
The Commission also believes that it is ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
appropriate for the Exchange to adopt All submissions should refer to File Securities and Exchange Commission
definitions of Priority Customer and Number SR–BatsBZX–2016–02. This file (‘‘Commission’’) the proposed rule
Priority Customer Order as they are number should be included on the change as described in Items I and II
similar to and based on MIAX Rule 100. subject line if email is used. To help the below, which Items have been prepared
Accordingly, the proposed definitions Commission process and review your by the Exchange. The Exchange has
are similar to existing rules of other comments more efficiently, please use designated this proposal as a ‘‘non-
options exchanges and do not raise any only one method. The Commission will controversial’’ proposed rule change
new policy issues. Based on the post all comments on the Commission’s pursuant to Section 19(b)(3)(A) of the
foregoing, the Commission believes that Internet Web site (http://www.sec.gov/ Act 3 and Rule 19b–4(f)(6)(iii)
waiving the 30-day operative delay is rules/sro.shtml). Copies of the thereunder,4 which renders it effective
consistent with the protection of submission, all subsequent upon filing with the Commission. The
investors and the public interest.16 The Commission is publishing this notice to
amendments, all written statements
Commission hereby grants the solicit comments on the proposed rule
with respect to the proposed rule
Exchange’s request and designates the change from interested persons.
change that are filed with the
proposal operative upon filing. Commission, and all written I. Self-Regulatory Organization’s
At any time within 60 days of the Statement of the Terms of Substance of
communications relating to the
filing of the proposed rule change, the the Proposed Rule Change
proposed rule change between the
Commission summarily may
temporarily suspend such rule change if Commission and any person, other than The Exchange filed a proposal to
it appears to the Commission that such those that may be withheld from the make a modification to Rule 21.1
action is necessary or appropriate in the public in accordance with the (Definitions) in connection with the
public interest, for the protection of provisions of 5 U.S.C. 552, will be operation of the attribution feature of
investors, or otherwise in furtherance of available for Web site viewing and EDGX Options, as described below. In
the purposes of the Act. If the printing in the Commission’s Public addition, the Exchange proposes to
Commission takes such action, the Reference Room, 100 F Street NE., adopt definitions of ‘‘Priority Customer’’
Commission shall institute proceedings Washington, DC 20549, on official and ‘‘Priority Customer Order’’ in Rule
business days between the hours of 16.1 and to use such definitions
12 15 U.S.C. 78s(b)(3)(A). 10:00 a.m. and 3:00 p.m. Copies of such throughout Rules 21.8, 21.10 and 21.15.
13 In addition, Rule 19b–4(f)(6)(iii) requires the Finally, the Exchange also proposes
filing will also be available for
Exchange to give the Commission written notice of related changes to Rules 20.6 and 21.8.
the Exchange’s intent to file the proposed rule inspection and copying at the principal The text of the proposed rule change
change, along with a brief description and text of office of the Exchange. All comments is available at the Exchange’s Web site
the proposed rule change, at least five business days received will be posted without change;
prior to the date of filing of the proposed rule at www.batstrading.com, at the
change, or such shorter time as designated by the the Commission does not edit personal principal office of the Exchange, and at
mstockstill on DSK4VPTVN1PROD with NOTICES
Commission. The Exchange has satisfied this identifying information from the Commission’s Public Reference
requirement. submissions. You should submit only
14 17 CFR 240.19b–4(f)(6).
Room.
15 17 CFR 240.19b–4(f)(6)(iii).
information that you wish to make
16 For purposes only of waiving the 30-day available publicly. All submissions 17 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
operative delay, the Commission has also should refer to File Number SR–
2 17 CFR 240.19b–4.
considered the proposed rule’s impact on BatsBZX–2016–02 and should be 3 15 U.S.C. 78s(b)(3)(A).
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). submitted on or before April 29, 2016. 4 17 CFR 240.19b–4(f)(6)(iii).
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Document Created: 2018-02-07 13:50:16
Document Modified: 2018-02-07 13:50:16
| 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 | 81 FR 20709 |
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