81 FR 60397 - Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan To Address Extraordinary Market Volatility To Add the Investors Exchange LLC as a Participant

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 170 (September 1, 2016)

[Federal Register Volume 81, Number 170 (Thursday, September 1, 2016)]
[Notices]
[Pages 60397-60398]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-21024]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78703; File No. 4-631]


Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Plan To Address Extraordinary Market Volatility To 
Add the Investors Exchange LLC as a Participant

August 26, 2016.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Exchange Act'') \1\ and Rule 608 thereunder,\2\ notice is 
hereby given that on August 11, 2016 Investors Exchange LLC (``IEX'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') \3\ an amendment to the Plan to Address Extraordinary 
Market Volatility (``Plan'').\4\ The amendment adds IEX as a 
Participant \5\ to the Plan. The Commission is publishing this notice 
to solicit comments on the amendment from interested persons.
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    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ See Letter from Claudia Crowley, Chief Regulatory Officer, 
Investors Exchange LLC, to Brent J. Fields, Secretary, Securities 
and Exchange Commission, dated August 11, 2016.
    \4\ On May 6, 2015, the Commission issued an order approving the 
Plan on a one-year Pilot basis (the ``Approval Order''). See 
Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 
33498 (June 6, 2012). The Plan was subsequently amended several 
times to extend the pilot period, among other things, with the 
current Plan set to expire on April 21, 2017. See Securities 
Exchange Act Release No. 77679 (April 21, 2016), 81 FR 24908 (April 
27, 2016) (order approving tenth amendment to Plan).
    \5\ The term ``Participant'' is defined as a party to the Plan.
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I. Description and Purpose of the Plan Amendment

    As noted above, the sole proposed amendment to the Plan is to add 
the Exchange as a Participant. On June 17, 2016, the Commission issued 
an order granting IEX's application for registration as a national 
securities exchange.\6\ A condition of the Commission's approval was 
the requirement for IEX to join the Plan.
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    \6\ See Securities Exchange Act Release No. 78101 (June 17, 
2016), 81 FR 41141 (June 23, 2016).
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    Under Section II(C) of the Plan, any entity registered as a 
national securities exchange or national securities association under 
the Exchange Act may become a Participant by: (1) Executing a copy of 
the Plan, as then in effect; (2) providing each then-current 
Participant with a copy of such executed Plan; and (3) effecting an 
amendment to the Plan as specified in Section III(B) of the Plan. 
Section III(B) of the Plan sets forth the process for a prospective new 
Participant to effect an amendment of the Plan. Specifically, the Plan 
provides that such an amendment to the Plan may be effected by the new 
national securities exchange or national securities association by 
executing a copy of the Plan as then in effect (with the only change 
being the addition of the new Participant's name in Section II(A) of 
the Plan); and submitting such executed Plan to the Commission. The 
amendment will be effective when it is approved by the Commission in 
accordance with Rule 608 of Regulation NMS, or otherwise becomes 
effective pursuant to Rule 608 of Regulation NMS.
    IEX has executed a copy of the Plan currently in effect, with the 
only change being the addition of its name in Section II(A) of the 
Plan, and has provided a copy of the Plan executed by IEX to each of 
the other Participants. IEX has also submitted the executed Plan to the 
Commission. Accordingly, all of the Plan requirements for effecting an 
amendment to the Plan to add IEX as a Participant have been satisfied.

II. Effectiveness of the Proposed Plan Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) of the Exchange Act \7\ because it involves solely 
technical or ministerial matters. At any time within sixty days of the 
filing of this amendment, the Commission may summarily abrogate the 
amendment and require that it be refiled pursuant to paragraph (a)(1) 
of Rule 608,\8\ if it appears to the Commission that such action is 
necessary or appropriate in the public interest, for the protection of 
investors, or the maintenance of fair and orderly markets, to remove 
impediments to, and perfect the mechanisms of, a national market system 
or otherwise in furtherance of the purposes of the Exchange Act.
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    \7\ 17 CFR 242.608(b)(3)(iii).
    \8\ 17 CFR 242.608(a)(1).
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III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the amendment is 
consistent with the Exchange Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number 4-631 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number 4-631.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 plan amendment that are filed 
with the Commission, and all written

[[Page 60398]]

communications relating to the amendment 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 
also will be available for inspection and copying at the principal 
office of IEX. 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 4-631 
and should be submitted on or before September 22, 2016.

    By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-21024 Filed 8-31-16; 8:45 am]
BILLING CODE 8011-01-P