81 FR 30578 - Self-Regulatory Organizations; Bats EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.11, Routing to Away Trading Centers, To Delete the IOCM and ICMT Routing Options
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 95 (May 17, 2016)
Federal Register Volume 81, Issue 95 (May 17, 2016)
| Page Range | 30578-30579 | |
| FR Document | 2016-11540 |
[Federal Register Volume 81, Number 95 (Tuesday, May 17, 2016)] [Notices] [Pages 30578-30579] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-11540] [[Page 30578]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77810; File No. SR-BatsEDGA-2016-07] Self-Regulatory Organizations; Bats EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.11, Routing to Away Trading Centers, To Delete the IOCM and ICMT Routing Options May 11, 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 May 2, 2016, Bats EDGA Exchange, Inc. f/k/a EDGA Exchange, Inc. (the ``Exchange'' or ``EDGA'') 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 11.11, Routing to Away Trading Centers, to delete the IOCM and ICMT routing options. The Exchange also proposes to amend its fee schedule to delete: (i) References to the IOCM and ICMT routing options under footnotes 7 and 12; and (ii) fee code MT, which is yielded on MidPoint Peg Orders \5\ routed to Bats EDGX Exchange, Inc. (``EDGX'') using the IOCM or ICMT routing options. --------------------------------------------------------------------------- \5\ See Exchange Rule 11.8(d). --------------------------------------------------------------------------- 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Rule 11.11, Routing to Away Trading Centers, to delete the IOCM and ICMT routing options. The Exchange also proposes to amend its fee schedule to delete: (i) References to the IOCM and ICMT routing options under footnotes 7 and 12; and (ii) fee code MT, which is yielded on MidPoint Peg Orders routed to EDGX using the IOCM or ICMT routing options. Under Rule 11.11(g)(11), an order utilizing the IOCM routing option checks the System \6\ for available shares and then is sent, as MidPoint Peg Order with a Time-in-Force of IOC, to EDGX. Under Rule 11.11(g)(12), an order utilizing the ICMT routing option checks the System for available shares, then is sent to destinations on the System routing table and then is sent, as MidPoint Peg Order with a Time-in- Force of IOC, to EDGX. If shares remain unexecuted after routing pursuant to both the IOCM and ICMT routing options, they are posted on the book, unless otherwise instructed by the User.\7\ --------------------------------------------------------------------------- \6\ The ``System'' is the Exchange's electronic communications and trading facility designated by the Board through which securities orders of Users are consolidated for ranking, execution and, when applicable, routing away. See Exchange Rule 1.5(cc). \7\ The term ``User'' is defined as ``any Member or Sponsored Participant who is authorized to obtain access to the System pursuant to Rule 11.3.'' See Exchange Rule 1.5(ee). --------------------------------------------------------------------------- Fee codes CR and XR are yielded to orders that remove liquidity from the Exchange using an eligible routing option. Footnote 7 of the Exchanges fee schedule lists the eligible routing options for fee code XR, which includes the IOCM routing option and footnote 12 lists the eligible routing options for fee code CR, which includes the ICMT routing option. Fee code MT is yielded on MidPoint Peg Orders routed to EDGX using the IOCM or ICMT routing options. Orders that yield fee code MT pay a fee of $0.0029 per share in securities priced at or above $1.00 and 0.30% of the trade's dollar value for securities priced below $1.00.\8\ --------------------------------------------------------------------------- \8\ These rates represents the pass through the rate that BATS Trading, Inc. (``BATS Trading''), the Exchange's affiliated routing broker-dealer, is charged for routing MidPoint Peg Orders to EDGX when it does not qualify for a volume tiered reduced fee. --------------------------------------------------------------------------- Because few Users elect the IOCM or ICMT routing options, the Exchange has determined that the current demand does not warrant the infrastructure and ongoing maintenance expenses required to support the products. Therefore, the Exchange proposes to delete the IOCM and ICMT routing options under Rule 11.11(g)(11) and (12) as well as a reference to the IOCM and ICMT routing options under Rule 11.11(g)(15). The Exchange also proposes to amend its fee schedule to delete: (i) References to the IOCM and ICMT routing options under footnotes 7 and 12; and (ii) fee code MT, which is yielded on MidPoint Peg Orders routed to EDGX using the IOCM or ICMT routing options. Users seeking to route midpoint eligible orders to EDGX may use alternative methods, such as connecting to EDGX directly or through a third party service provider, or electing another routing option offered by the Exchange that enables a User to post an order to certain primary listing markets.\9\ --------------------------------------------------------------------------- \9\ See e.g., Rule 11.11(g)(13) (describing the RMPT routing option under which a MidPoint Peg Order checks the System for available shares and any remaining shares are then sent to destinations on the System routing table that support midpoint eligible orders. If any shares remain unexecuted after routing, they are posted on the EDGA book as a MidPoint Peg Order, unless otherwise instructed by the User). --------------------------------------------------------------------------- The Exchange intends to implement the proposed rule change on May 6, 2016.\10\ --------------------------------------------------------------------------- \10\ See Bats to Decommission ICMT, IOCM, and TRIM3 Routing Strategies, issued April 18, 2016, available at http://cdn.batstrading.com/resources/release_notes/2016/Bats-to-Decommission-ICMT-IOCM-and-TRIM3-Routing-Strategies.pdf. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \11\ in general, and furthers the objectives of Section 6(b)(5) of the Act \12\ in particular, in that it is designed 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. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b). \12\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange does not believe that this proposal will permit unfair discrimination among customers, [[Page 30579]] brokers, or dealers because the IOCM and ICMT routing options will no longer be available to all Users. The Exchange has few Users electing the IOCM and ICMT routing options and has determined that the current demand does not warrant the infrastructure and ongoing maintenance expense required to support the products. Routing through the Exchange is voluntary and alternative routing options offered by the Exchange as well as other methods remain available to Users that wish to route midpoint eligible orders to EDGX.\13\ In addition, the IOCM and ICMT routing options are not core product offerings by the Exchange, nor is the Exchange required by the Act to offer such products. Therefore, the Exchange believes the proposed rule change would make its rules clearer and less confusing for investors by removing routing options that will no longer be offered by the Exchange; thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system, and, in general, protecting investors and the public interest. --------------------------------------------------------------------------- \13\ See supra note 9 and accompanying text. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposal will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not designed to address any competitive issues but rather avoid investor confusion by eliminating the IOCM and ICMT routing options that are to be discontinued by the Exchange. 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 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 \14\ and Rule 19b-4(f)(6) thereunder.\15\ --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the 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. --------------------------------------------------------------------------- A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the Act \16\ normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) \17\ 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 Exchange states that waiver of the 30-day operative delay would allow the Exchange to modify its rules in a timely manner by: (i) Eliminating a rule that accounts for services with few subscribers that the Exchange intends to discontinue; and (ii) accurately describing the alternative routing options available to Users, thereby avoiding potential investor confusion during the operative delay period. Based on the foregoing, the Commission believes the waiver of the operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposal operative upon filing.\18\ --------------------------------------------------------------------------- \16\ 17 CFR 240.19b-4(f)(6). \17\ 17 CFR 240.19b-4(f)(6)(iii). \18\ 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 change 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 No. SR-BatsEDGA-2016-07 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-BatsEDGA-2016-07. 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 the 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-BatsEDGA-2016-07, and should be submitted on or before June 7, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-11540 Filed 5-16-16; 8:45 am] BILLING CODE 8011-01-P
![30578 Federal Register / Vol. 81, No. 95 / Tuesday, May 17, 2016 / Notices
SECURITIES AND EXCHANGE concerning the purpose of and basis for 0.30% of the trade’s dollar value for
COMMISSION the proposed rule change and discussed securities priced below $1.00.8
any comments it received on the Because few Users elect the IOCM or
[Release No. 34–77810; File No. SR– ICMT routing options, the Exchange has
BatsEDGA–2016–07]
proposed rule change. The text of these
statements may be examined at the determined that the current demand
Self-Regulatory Organizations; Bats places specified in Item IV below. The does not warrant the infrastructure and
EDGA Exchange, Inc.; Notice of Filing Exchange has prepared summaries, set ongoing maintenance expenses required
and Immediate Effectiveness of a forth in Sections A, B, and C below, of to support the products. Therefore, the
Proposed Rule Change to Rule 11.11, the most significant parts of such Exchange proposes to delete the IOCM
Routing to Away Trading Centers, To statements. and ICMT routing options under Rule
Delete the IOCM and ICMT Routing 11.11(g)(11) and (12) as well as a
A. Self-Regulatory Organization’s reference to the IOCM and ICMT routing
Options Statement of the Purpose of, and the options under Rule 11.11(g)(15). The
May 11, 2016. Statutory Basis for, the Proposed Rule Exchange also proposes to amend its fee
Pursuant to Section 19(b)(1) of the Change schedule to delete: (i) References to the
Securities Exchange Act of 1934 (the 1. Purpose IOCM and ICMT routing options under
‘‘Act’’),1 and Rule 19b–4 thereunder,2 footnotes 7 and 12; and (ii) fee code MT,
The Exchange proposes to amend
notice is hereby given that on May 2, which is yielded on MidPoint Peg
Rule 11.11, Routing to Away Trading
2016, Bats EDGA Exchange, Inc. f/k/a Orders routed to EDGX using the IOCM
Centers, to delete the IOCM and ICMT
EDGA Exchange, Inc. (the ‘‘Exchange’’ or ICMT routing options. Users seeking
routing options. The Exchange also
or ‘‘EDGA’’) filed with the Securities to route midpoint eligible orders to
proposes to amend its fee schedule to
and Exchange Commission EDGX may use alternative methods,
delete: (i) References to the IOCM and
(‘‘Commission’’) the proposed rule such as connecting to EDGX directly or
ICMT routing options under footnotes 7
change as described in Items I and II through a third party service provider,
and 12; and (ii) fee code MT, which is
below, which Items have been prepared or electing another routing option
yielded on MidPoint Peg Orders routed
by the Exchange. The Exchange has offered by the Exchange that enables a
to EDGX using the IOCM or ICMT
designated this proposal as a ‘‘non- User to post an order to certain primary
routing options.
controversial’’ proposed rule change Under Rule 11.11(g)(11), an order listing markets.9
pursuant to Section 19(b)(3)(A) of the utilizing the IOCM routing option The Exchange intends to implement
Act 3 and Rule 19b–4(f)(6)(iii) the proposed rule change on May 6,
checks the System 6 for available shares
thereunder,4 which renders it effective 2016.10
and then is sent, as MidPoint Peg Order
upon filing with the Commission. The
with a Time-in-Force of IOC, to EDGX. 2. Statutory Basis
Commission is publishing this notice to
Under Rule 11.11(g)(12), an order The Exchange believes that its
solicit comments on the proposed rule
utilizing the ICMT routing option proposal is consistent with Section 6(b)
change from interested persons.
checks the System for available shares, of the Act 11 in general, and furthers the
I. Self-Regulatory Organization’s then is sent to destinations on the objectives of Section 6(b)(5) of the Act 12
Statement of the Terms of Substance of System routing table and then is sent, as in particular, in that it is designed to
the Proposed Rule Change MidPoint Peg Order with a Time-in- promote just and equitable principles of
The Exchange filed a proposal to Force of IOC, to EDGX. If shares remain trade, to foster cooperation and
amend Rule 11.11, Routing to Away unexecuted after routing pursuant to coordination with persons engaged in
Trading Centers, to delete the IOCM and both the IOCM and ICMT routing facilitating transactions in securities, to
ICMT routing options. The Exchange options, they are posted on the book, remove impediments to and perfect the
also proposes to amend its fee schedule unless otherwise instructed by the mechanism of a free and open market
to delete: (i) References to the IOCM and User.7 and a national market system and, in
ICMT routing options under footnotes 7 Fee codes CR and XR are yielded to general, to protect investors and the
and 12; and (ii) fee code MT, which is orders that remove liquidity from the public interest.
yielded on MidPoint Peg Orders 5 routed Exchange using an eligible routing The Exchange does not believe that
to Bats EDGX Exchange, Inc. (‘‘EDGX’’) option. Footnote 7 of the Exchanges fee this proposal will permit unfair
using the IOCM or ICMT routing schedule lists the eligible routing discrimination among customers,
options. options for fee code XR, which includes
The text of the proposed rule change the IOCM routing option and footnote 8 These rates represents the pass through the rate
is available at the Exchange’s Web site 12 lists the eligible routing options for that BATS Trading, Inc. (‘‘BATS Trading’’), the
fee code CR, which includes the ICMT Exchange’s affiliated routing broker-dealer, is
at www.batstrading.com, at the charged for routing MidPoint Peg Orders to EDGX
principal office of the Exchange, and at routing option. Fee code MT is yielded when it does not qualify for a volume tiered
the Commission’s Public Reference on MidPoint Peg Orders routed to EDGX reduced fee.
Room. using the IOCM or ICMT routing 9 See e.g., Rule 11.11(g)(13) (describing the RMPT
options. Orders that yield fee code MT routing option under which a MidPoint Peg Order
II. Self-Regulatory Organization’s pay a fee of $0.0029 per share in
checks the System for available shares and any
Statement of the Purpose of, and remaining shares are then sent to destinations on
securities priced at or above $1.00 and the System routing table that support midpoint
Statutory Basis for, the Proposed Rule eligible orders. If any shares remain unexecuted
Change 6 The ‘‘System’’ is the Exchange’s electronic after routing, they are posted on the EDGA book as
jstallworth on DSK7TPTVN1PROD with NOTICES
In its filing with the Commission, the communications and trading facility designated by a MidPoint Peg Order, unless otherwise instructed
the Board through which securities orders of Users by the User).
Exchange included statements 10 See Bats to Decommission ICMT, IOCM, and
are consolidated for ranking, execution and, when
applicable, routing away. See Exchange Rule TRIM3 Routing Strategies, issued April 18, 2016,
1 15 U.S.C. 78s(b)(1). 1.5(cc). available at http://cdn.batstrading.com/resources/
2 17 CFR 240.19b–4. release_notes/2016/Bats-to-Decommission-ICMT-
7 The term ‘‘User’’ is defined as ‘‘any Member or
3 15 U.S.C. 78s(b)(3)(A).
Sponsored Participant who is authorized to obtain IOCM-and-TRIM3-Routing-Strategies.pdf.
4 17 CFR 240.19b–4(f)(6)(iii). 11 15 U.S.C. 78f(b).
access to the System pursuant to Rule 11.3.’’ See
5 See Exchange Rule 11.8(d). Exchange Rule 1.5(ee). 12 15 U.S.C. 78f(b)(5).
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![Federal Register / Vol. 81, No. 95 / Tuesday, May 17, 2016 / Notices 30579
brokers, or dealers because the IOCM 19(b)(3)(A) of the Act 14 and Rule 19b– Comments may be submitted by any of
and ICMT routing options will no longer 4(f)(6) thereunder.15 the following methods:
be available to all Users. The Exchange A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the Electronic Comments
has few Users electing the IOCM and
ICMT routing options and has Act 16 normally does not become • Use the Commission’s Internet
determined that the current demand operative for 30 days after the date of its comment form (http://www.sec.gov/
does not warrant the infrastructure and filing. However, Rule 19b–4(f)(6)(iii) 17 rules/sro.shtml); or
ongoing maintenance expense required permits the Commission to designate a
shorter time if such action is consistent • Send an email to rule-
to support the products. Routing comments@sec.gov. Please include File
through the Exchange is voluntary and with the protection of investors and the
public interest. The Exchange has asked No. SR–BatsEDGA–2016–07 on the
alternative routing options offered by subject line.
the Exchange as well as other methods the Commission to waive the 30-day
operative delay so that the proposal may Paper Comments
remain available to Users that wish to
become operative immediately upon
route midpoint eligible orders to
filing. The Exchange states that waiver • Send paper comments in triplicate
EDGX.13 In addition, the IOCM and of the 30-day operative delay would to Secretary, Securities and Exchange
ICMT routing options are not core allow the Exchange to modify its rules Commission, 100 F Street NE.,
product offerings by the Exchange, nor in a timely manner by: (i) Eliminating a Washington, DC 20549–1090.
is the Exchange required by the Act to rule that accounts for services with few
offer such products. Therefore, the subscribers that the Exchange intends to All submissions should refer to File No.
Exchange believes the proposed rule discontinue; and (ii) accurately SR–BatsEDGA–2016–07. This file
change would make its rules clearer and describing the alternative routing number should be included on the
less confusing for investors by removing options available to Users, thereby subject line if email is used. To help the
routing options that will no longer be avoiding potential investor confusion Commission process and review your
offered by the Exchange; thereby during the operative delay period. Based comments more efficiently, please use
removing impediments to and on the foregoing, the Commission only one method. The Commission will
perfecting the mechanism of a free and believes the waiver of the operative post all comments on the Commission’s
open market and a national market delay is consistent with the protection Internet Web site (http://www.sec.gov/
system, and, in general, protecting of investors and the public interest. rules/sro.shtml). Copies of the
investors and the public interest. Therefore, the Commission hereby submission, all subsequent
waives the operative delay and amendments, all written statements
B. Self-Regulatory Organization’s designates the proposal operative upon with respect to the proposed rule
Statement on Burden on Competition filing.18 change that are filed with the
At any time within 60 days of the Commission, and all written
The Exchange does not believe that communications relating to the
filing of the proposed rule change, the
the proposal will impose any burden on proposed rule change between the
Commission summarily may
competition not necessary or Commission and any person, other than
temporarily suspend such rule change if
appropriate in furtherance of the it appears to the Commission that such those that may be withheld from the
purposes of the Act. The proposed rule action is necessary or appropriate in the public in accordance with the
change is not designed to address any public interest, for the protection of provisions of 5 U.S.C. 552, will be
competitive issues but rather avoid investors, or otherwise in furtherance of available for Web site viewing and
investor confusion by eliminating the the purposes of the Act. If the printing in the Commission’s Public
IOCM and ICMT routing options that are Commission takes such action, the Reference Room, 100 F Street NE.,
to be discontinued by the Exchange. Commission shall institute proceedings Washington, DC 20549, on official
C. Self-Regulatory Organization’s to determine whether the proposed rule business days between the hours of
change should be approved or 10:00 a.m. and 3:00 p.m. Copies of the
Statement on Comments on the
disapproved. filing also will be available for
Proposed Rule Change Received From
inspection and copying at the principal
Members, Participants, or Others IV. Solicitation of Comments
office of the Exchange. All comments
The Exchange has neither solicited Interested persons are invited to received will be posted without change;
nor received written comments on the submit written data, views, and the Commission does not edit personal
proposed rule change. arguments concerning the foregoing, identifying information from
including whether the proposed rule submissions. You should submit only
III. Date of Effectiveness of the change is consistent with the Act. information that you wish to make
Proposed Rule Change and Timing for available publicly. All submissions
14 15 U.S.C. 78s(b)(3)(A).
Commission Action should refer to File No. SR–BatsEDGA–
15 17 CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
2016–07, and should be submitted on or
Because the proposed rule change before June 7, 2016.
Commission with written notice of its intent to file
does not (i) significantly affect the the proposed rule change, along with a brief
protection of investors or the public description and the text of the proposed rule
For the Commission, by the Division of
interest; (ii) impose any significant change, at least five business days prior to the date Trading and Markets, pursuant to delegated
jstallworth on DSK7TPTVN1PROD with NOTICES
of filing of the proposed rule change, or such authority.19
burden on competition; and (iii) become shorter time as designated by the Commission.
operative for 30 days from the date on 16 17 CFR 240.19b–4(f)(6).
Robert W. Errett,
which it was filed, or such shorter time 17 17 CFR 240.19b–4(f)(6)(iii). Deputy Secretary.
as the Commission may designate, it has 18 For purposes only of waiving the 30-day [FR Doc. 2016–11540 Filed 5–16–16; 8:45 am]
become effective pursuant to Section operative delay, the Commission has also BILLING CODE 8011–01–P
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
13 See supra note 9 and accompanying text. 15 U.S.C. 78c(f). 19 17 CFR 200.30–3(a)(12).
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Document Created: 2018-02-07 15:05:19
Document Modified: 2018-02-07 15:05:19
| 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 | 81 FR 30578 |
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