81 FR 91971 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 11.22(b) Regarding the Data Collection Requirements of the Regulation NMS Plan To Implement a Tick Size Pilot Program
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 243 (December 19, 2016)
Federal Register Volume 81, Issue 243 (December 19, 2016)
| Page Range | 91971-91973 | |
| FR Document | 2016-30390 |
[Federal Register Volume 81, Number 243 (Monday, December 19, 2016)] [Notices] [Pages 91971-91973] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-30390] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79537; File No. SR-BatsEDGX-2016-70] Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 11.22(b) Regarding the Data Collection Requirements of the Regulation NMS Plan To Implement a Tick Size Pilot Program December 13, 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 November 30, 2016, Bats EDGX Exchange, Inc. (the ``Exchange'' or ``EDGX'') 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 Exchange Rule 11.22(b) regarding the data collection requirements of the Regulation NMS Plan to Implement a Tick Size Pilot Program (``Plan''). 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 [[Page 91972]] 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 On August 25, 2014, the Exchange, and several other self-regulatory organizations (the ``Participants'') filed with the Commission, pursuant to Section 11A of the Act \5\ and Rule 608 of Regulation NMS thereunder,\6\ the Plan to Implement a Tick Size Pilot Program.\7\ The Participants filed the Plan to comply with an order issued by the Commission on June 24, 2014.\8\ The Plan was published for comment in the Federal Register on November 7, 2014, and approved by the Commission, as modified, on May 6, 2015.\9\ The Commission approved the Pilot on a two-year basis, with implementation to begin no later than May 6, 2016.\10\ On November 6, 2015, the SEC exempted the Participants from implementing the Pilot until October 3, 2016.\11\ Under the revised Pilot implementation date, the Pre-Pilot data collection period commenced on April 4, 2016. On September 13, 2016, the SEC exempted the Participants from the requirement to fully implement the Pilot on October 3, 2016, to permit the Participants to implement the pilot on a phased-in basis, as described in the Participants' exemptive request.\12\ --------------------------------------------------------------------------- \5\ 15 U.S.C. 78k-1. \6\ 17 CFR 242.608. \7\ See Letter from Brendon J. Weiss, Vice President, Intercontinental Exchange, Inc., to Secretary, Commission, dated August 25, 2014. \8\ See Securities Exchange Act Release No. 72460 (June 24, 2014), 79 FR 36840 (June 30, 2014). \9\ See Securities Exchange Act Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015) (``Approval Order''). \10\ See Approval Order at 27533 and 27545. \11\ See Securities Exchange Act Release No. 76382 (November 6, 2015), 80 FR 70284 (November 13, 2015). \12\ See Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Eric Swanson, EVP, General Counsel and Secretary, Exchange, dated September 13, 2016; see also Letter from Eric Swanson, EVP, General Counsel and Secretary, Exchange, to Brent J. Fields, Secretary, Commission, dated September 9, 2016. --------------------------------------------------------------------------- The Plan is designed to allow the Commission, market participants, and the public to study and assess the impact of increment conventions on the liquidity and trading of the common stock of small- capitalization companies. Each Participant is required to comply, and to enforce compliance by its member organizations, as applicable, with the provisions of the Plan. The Exchange adopted rule amendments to implement the requirements of the Plan, including relating to the Plan's data collection requirements and requirements relating to Web site data publication.\13\ Specifically, with respect to the Web site data publication requirements pursuant to Section VII and Appendices B and C to the Plan, Exchange Rule 11.22(b)(2) provides, among other things, that the Exchange shall make the data required by Items I and II of Appendix B to the Plan, and collected pursuant to paragraph (b)(2)(A) of Rule 11.22, publicly available on the Exchange's Web site on a monthly basis at no charge and shall not identify the Trading Center that generated the data. Exchange Rule 11.22(b)(3)(C), provides, among other things, that the Exchange shall make the data required by Item IV of Appendix B to the Plan, and collected pursuant to paragraph (b)(3) of Rule 11.22, publicly available on the Exchange's Web site on a monthly basis at no charge and shall not identify the Trading Center that generated the data. Exchange Rule 11.22(b)(5) provides, among other things, shall collect and transmit to the Commission data described in Item III of Appendix B of the Plan relating to daily Market Maker registration statistics, but does not currently include a provision requiring the Exchange to publish such data to its Web site.\14\ Interpretation and Policy .08 to Exchange Rule 11.22(b) provides, among other things, that the requirement that Exchange or Designated Examining Authority (``DEA'') make certain data publicly available on their Web site pursuant to Appendix B and C to the Plan shall commence at the beginning of the Pilot Period.\15\ --------------------------------------------------------------------------- \13\ See, e.g., Securities Exchange Act Release Nos. 77416 (March 22, 2016), 81 FR 17225 (March 28, 2016); and 78798 (September 9, 2016), 81 FR 63532 (September 15, 2016). See also Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Marcia E. Asquith, Senior Vice President and Corporate Secretary, FINRA, dated February 17, 2016. \14\ Section VII.A. 4 of the Plan. \15\ The Exchange understands that some Market Makers may utilize a DEA that is not a Participant to the Plan and that their DEA would not be subject to the Plan's data collection requirements. Exchange rules require members that are Market Makers whose DEA is not a Participant to the Plan to transmit transaction data for Market Maker participation and profitability calculations to FINRA. See paragraphs (3)(B) and (4)(B) of Exchange Rule 11.22(b). --------------------------------------------------------------------------- The Exchange is proposing amendments to Rule 11.22(b)(2) (regarding Appendix B.I and B.II data) and Rule 11.22(b)(3)(C) (regarding Appendix B.IV data), to provide that data required to be made available on Exchange's or DEA's Web site be published within 120 calendar days following month end. The Exchange also proposes to add a provision to Rule 11.22(b)(5) to state that the Exchange shall make data collected under Appendix B.III publicly available on the Exchange Web site within 120 calendar days following month end at no charge. In addition, the proposed amendments to Interpretation and Policy .08 to Exchange Rule 11.22(b) would provide that, notwithstanding the provisions of paragraphs (b)(2), (b)(3)(C), and (b)(5), the Exchange and DEA shall make data for the Pre-Pilot period publicly available on their Web site pursuant to Appendix B and C to the Plan by February 28, 2017.\16\ The purpose of delaying the publication of the Web site data is to address confidentiality concerns by providing for the passage of additional time between the market information reflected in the data and the public availability of such information. The Exchange has filed the proposed rule change for immediate effectiveness and has requested that the Commission waive the 30-day operative delay. If the Commission waives the 30-day operative delay, the operative date of the proposed rule change will be the date of filing. --------------------------------------------------------------------------- \16\ With respect to data for the Pilot Period, the requirement that the Exchange and DEA make data publicly available on their Web site pursuant to Appendix B and C to the Plan shall continue to commence at the beginning of the Pilot Period. Thus, the first Web site publication date for Pilot Period data (covering October 2016) would be published on the Exchange's or DEA's Web site by February 28, 2017, which is 120 days following the end of October 2016. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \17\ in general, and furthers the objectives of Section 6(b)(5) of the Act \18\ 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. --------------------------------------------------------------------------- \17\ 15 U.S.C. 78f(b). \18\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that this proposal is consistent with the Act because it is designed to assist the Participants in meeting their regulatory obligations pursuant to the Plan and is in furtherance of the objectives of the Plan, as identified by the SEC. The [[Page 91973]] Exchange believes that the instant proposal is consistent with the Act in that it is designed to addresses confidentiality concerns by permitting the Exchange to delay Web site publication to provide for passage of additional time between the market information reflected in the data and the public availability of such information. (B) Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange notes that the proposed rule change implements the provisions of the Plan, and is designed to assist the Participants in meeting their regulatory obligations pursuant to the Plan. The proposal is intended to addresses confidentiality concerns that may adversely impact competition, especially for Pilot Securities that may have a relatively small number of designated Market Makers, by permitting the Exchange to delay Web site publication to provide for passage of additional time between the market information reflected in the data and the public availability of such information. The proposal does not alter the information required to be submitted to the SEC. (C) Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received.\19\ --------------------------------------------------------------------------- \19\ See Letter from Mary Lou Von Kaenel, Managing Director, Financial Information Forum, to David S. Shillman, Associate Director, Division of Trading and Markets, Commission, dated August 16, 2016. --------------------------------------------------------------------------- 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) \20\ of the Act and Rule 19b- 4(f)(6) thereunder.\21\ --------------------------------------------------------------------------- \20\ 15 U.S.C. 78s(b)(3)(A). \21\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \22\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\23\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has filed the proposed rule change for immediate effectiveness and has requested that the Commission waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing so that it may become operative immediately. --------------------------------------------------------------------------- \22\ 17 CFR 240.19b-4(f)(6). \23\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- The Exchange notes that the proposed rule change implements the provisions of the Plan, and is designed to assist the Participants in meeting their regulatory obligations pursuant to the Plan. The proposal is intended to address confidentiality concerns by permitting the Exchange to delay Web site publication to provide for passage of additional time between the market information reflected in the data and the public availability of such information. The proposal also does not alter the information required to be submitted to the SEC. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because it will allow the Exchange to implement proposed changes that are intended to address confidentiality concerns. The Commission notes that some Pilot data was scheduled to be published on November 30, 2016. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change to be operative as of November 30, 2016.\24\ --------------------------------------------------------------------------- \24\ For purposes only of waiving the operative delay for this proposal, the Commission has 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.\25\ If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. --------------------------------------------------------------------------- \25\ 15 U.S.C. 78s(b)(3)(C). --------------------------------------------------------------------------- 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-BatsEDGX-2016-70 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-BatsEDGX-2016-70. 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-BatsEDGX-2016-70 and should be submitted on or before January 9, 2017. --------------------------------------------------------------------------- \26\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\26\ Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2016-30390 Filed 12-16-16; 8:45 am] BILLING CODE 8011-01-P
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The public may view background information barriers between their SECURITIES AND EXCHANGE
documentation for this information affiliates. COMMISSION
collection at the following Web site: There are approximately 998 [Release No. 34–79537; File No. SR–
www.reginfo.gov. Comments should be respondents per year that require an BatsEDGX–2016–70]
directed to: (i) Desk Officer for the aggregate total of 1,898 hours to comply
Securities and Exchange Commission, Self-Regulatory Organizations; Bats
with this rule. Each respondent makes
Office of Information and Regulatory EDGX Exchange, Inc.; Notice of Filing
an estimated 1 annual response. Each
Affairs, Office of Management and and Immediate Effectiveness of a
Budget, Room 10102, New Executive response takes on average
approximately 1.902 hours to complete. Proposed Rule Change To Amend
Office Building, Washington, DC 20503, Exchange Rule 11.22(b) Regarding the
or by sending an email to: Shagufta_ Thus, the total compliance burden per
year is 1,898 burden hours. The total Data Collection Requirements of the
Ahmed@omb.eop.gov; and (ii) Pamela Regulation NMS Plan To Implement a
Dyson, Director/Chief Information internal compliance cost for all
Tick Size Pilot Program
Officer, Securities and Exchange respondents is approximately
Commission, c/o Remi Pavlik-Simon, $123,370.00, resulting in an internal December 13, 2016.
100 F Street NE., Washington, DC cost of compliance per response of Pursuant to Section 19(b)(1) of the
20549, or by sending an email to: PRA_ approximately $124.00 (i.e., Securities Exchange Act of 1934 (the
Mailbox@sec.gov. Comments must be $123,370.00/998 responses). ‘‘Act’’),1 and Rule 19b–4 thereunder,2
submitted to OMB within 30 days of Written comments are invited on: (a) notice is hereby given that on November
this notice. Whether the proposed collection of 30, 2016, Bats EDGX Exchange, Inc. (the
Dated: December 6, 2016. information is necessary for the proper ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
Brent J. Fields, performance of the functions of the
(‘‘Commission’’) the proposed rule
Secretary. Commission, including whether the
change as described in Items I and II
[FR Doc. 2016–30378 Filed 12–16–16; 8:45 am] information shall have practical utility;
below, which Items have been prepared
BILLING CODE 8011–01–P (b) the accuracy of the Commission’s by the Exchange. The Exchange has
estimates of the burden of the proposed designated this proposal as a ‘‘non-
collection of information; (c) ways to controversial’’ proposed rule change
SECURITIES AND EXCHANGE enhance the quality, utility, and clarity pursuant to Section 19(b)(3)(A) of the
COMMISSION of the information collected; and (d) Act 3 and Rule 19b–4(f)(6)(iii)
ways to minimize the burden of the thereunder,4 which renders it effective
Proposed Collection; Comment collection of information on
Request upon filing with the Commission. The
respondents, including through the use Commission is publishing this notice to
Upon Written Request, Copies Available of automated collection techniques or solicit comments on the proposed rule
From: Securities and Exchange other forms of information technology. change from interested persons.
Commission, Office of FOIA Services, Consideration will be given to
I. Self-Regulatory Organization’s
100 F Street NE., Washington, DC comments and suggestions submitted in
Statement of the Terms of Substance of
20549–2736. writing within 60 days of this the Proposed Rule Change
publication.
Extension: The Exchange filed a proposal to
Rule 102, SEC File No. 270–409, OMB An agency may not conduct or amend Exchange Rule 11.22(b)
Control No. 3235–0467. sponsor, and a person is not required to regarding the data collection
respond to, a collection of information requirements of the Regulation NMS
Notice is hereby given that pursuant
under the PRA unless it displays a Plan to Implement a Tick Size Pilot
to the Paperwork Reduction Act of 1995
currently valid OMB control number. Program (‘‘Plan’’).
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission Please direct your written comments The text of the proposed rule change
(‘‘Commission’’) is soliciting comments to: Pamela Dyson, Director/Chief is available at the Exchange’s Web site
on the existing collection of information Information Officer, Securities and at www.batstrading.com, at the
provided for in Rule 102 of Regulation Exchange Commission, c/o Remi Pavlik- principal office of the Exchange, and at
M (17 CFR 242.102), under the Simon, 100 F Street NE., Washington, the Commission’s Public Reference
Securities Exchange Act of 1934 (15 DC 20549 or send an email to: Room.
U.S.C. 78a et seq.). The Commission PRA_Mailbox@sec.gov. II. Self-Regulatory Organization’s
plans to submit this existing collection Statement of the Purpose of, and
Dated: December 6, 2016.
of information to the Office of Statutory Basis for, the Proposed Rule
Management and Budget (‘‘OMB’’) for Brent J. Fields,
Change
extension and approval. Secretary.
[FR Doc. 2016–30371 Filed 12–16–16; 8:45 am] In its filing with the Commission, the
Rule 102—Activities by Issuers and Exchange included statements
Selling Security Holders During a BILLING CODE 8011–01–P
concerning the purpose of and basis for
Distribution—prohibits distribution the proposed rule change and discussed
participants, issuers, and selling any comments it received on the
security holders from purchasing
sradovich on DSK3GMQ082PROD with NOTICES
proposed rule change. The text of these
activities at specified times during a statements may be examined at the
distribution of securities. Persons places specified in Item IV below. The
otherwise covered by these rules may
seek to use several applicable 1 15 U.S.C. 78s(b)(1).
exceptions such as exclusion for 2 17 CFR 240.19b–4.
actively traded reference securities and 3 15 U.S.C. 78s(b)(3)(A).
the maintenance of policies regarding 4 17 CFR 240.19b–4(f)(6)(iii).
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Exchange believes that the instant the date of the filing. However, pursuant be submitted by any of the following
proposal is consistent with the Act in to Rule 19b–4(f)(6)(iii),23 the methods:
that it is designed to addresses Commission may designate a shorter
confidentiality concerns by permitting time if such action is consistent with the Electronic Comments
the Exchange to delay Web site protection of investors and the public • Use the Commission’s Internet
publication to provide for passage of interest. The Exchange has filed the comment form (http://www.sec.gov/
additional time between the market proposed rule change for immediate
rules/sro.shtml); or
information reflected in the data and the effectiveness and has requested that the
public availability of such information. Commission waive the requirement that • Send an email to rule-comments@
the proposed rule change not become sec.gov. Please include File No. SR–
(B) Self-Regulatory Organization’s operative for 30 days after the date of BatsEDGX–2016–70 on the subject line.
Statement on Burden on Competition the filing so that it may become
The Exchange does not believe that Paper Comments
operative immediately.
the proposed rule change will result in The Exchange notes that the proposed • Send paper comments in triplicate
any burden on competition that is not rule change implements the provisions to Secretary, Securities and Exchange
necessary or appropriate in furtherance of the Plan, and is designed to assist the Commission, 100 F Street NE.,
of the purposes of the Act. The Participants in meeting their regulatory
Washington, DC 20549–1090.
Exchange notes that the proposed rule obligations pursuant to the Plan. The
change implements the provisions of the proposal is intended to address All submissions should refer to File No.
Plan, and is designed to assist the confidentiality concerns by permitting SR–BatsEDGX–2016–70. This file
Participants in meeting their regulatory the Exchange to delay Web site number should be included on the
obligations pursuant to the Plan. publication to provide for passage of subject line if email is used. To help the
The proposal is intended to addresses additional time between the market Commission process and review your
confidentiality concerns that may information reflected in the data and the comments more efficiently, please use
adversely impact competition, public availability of such information. only one method. The Commission will
especially for Pilot Securities that may The proposal also does not alter the post all comments on the Commission’s
have a relatively small number of information required to be submitted to Internet Web site (http://www.sec.gov/
designated Market Makers, by the SEC.
rules/sro.shtml). Copies of the
permitting the Exchange to delay Web The Commission believes that
waiving the 30-day operative delay is submission, all subsequent
site publication to provide for passage of amendments, all written statements
additional time between the market consistent with the protection of
investors and the public interest with respect to the proposed rule
information reflected in the data and the
because it will allow the Exchange to change that are filed with the
public availability of such information.
The proposal does not alter the implement proposed changes that are Commission, and all written
information required to be submitted to intended to address confidentiality communications relating to the
the SEC. concerns. The Commission notes that proposed rule change between the
some Pilot data was scheduled to be Commission and any person, other than
(C) Self-Regulatory Organization’s published on November 30, 2016. those that may be withheld from the
Statement on Comments on the Therefore, the Commission hereby public in accordance with the
Proposed Rule Change Received From waives the 30-day operative delay and provisions of 5 U.S.C. 552, will be
Members, Participants or Others designates the proposed rule change to available for Web site viewing and
Written comments were neither be operative as of November 30, 2016.24 printing in the Commission’s Public
solicited nor received.19 At any time within 60 days of the Reference Room, 100 F Street NE.,
filing of the proposed rule change, the Washington, DC 20549, on official
III. Date of Effectiveness of the Commission summarily may
Proposed Rule Change and Timing for business days between the hours of
temporarily suspend such rule change if 10:00 a.m. and 3:00 p.m. Copies of such
Commission Action it appears to the Commission that such filing will also be available for
Because the foregoing proposed rule action is necessary or appropriate in the inspection and copying at the principal
change does not: (i) Significantly affect public interest, for the protection of office of the Exchange. All comments
the protection of investors or the public investors, or otherwise in furtherance of received will be posted without change;
interest; (ii) impose any significant the purposes of the Act.25 If the
the Commission does not edit personal
burden on competition; and (iii) become Commission takes such action, the
identifying information from
operative for 30 days from the date on Commission shall institute proceedings
which it was filed, or such shorter time submissions. You should submit only
to determine whether the proposed rule
as the Commission may designate, it has should be approved or disapproved. information that you wish to make
become effective pursuant to Section available publicly. All submissions
IV. Solicitation of Comments should refer to File No. SR–BatsEDGX–
19(b)(3)(A) 20 of the Act and Rule 19b–
4(f)(6) thereunder.21 Interested persons are invited to 2016–70 and should be submitted on or
A proposed rule change filed under submit written data, views and before January 9,2017.
Rule 19b–4(f)(6) 22 normally does not arguments concerning the foregoing, For the Commission, by the Division of
become operative prior to 30 days after including whether the proposal is Trading and Markets, pursuant to delegated
sradovich on DSK3GMQ082PROD with NOTICES
consistent with the Act. Comments may authority.26
19 See Letter from Mary Lou Von Kaenel,
Eduardo A. Aleman,
Managing Director, Financial Information Forum, to 23 17 CFR 240.19b–4(f)(6)(iii).
David S. Shillman, Associate Director, Division of 24 For purposes only of waiving the operative Assistant Secretary.
Trading and Markets, Commission, dated August delay for this proposal, the Commission has [FR Doc. 2016–30390 Filed 12–16–16; 8:45 am]
16, 2016. considered the proposed rule’s impact on
20 15 U.S.C. 78s(b)(3)(A). BILLING CODE 8011–01–P
efficiency, competition, and capital formation. See
21 17 CFR 240.19b–4(f)(6). 15 U.S.C. 78c(f).
22 17 CFR 240.19b–4(f)(6). 25 15 U.S.C. 78s(b)(3)(C). 26 17 CFR 200.30–3(a)(12).
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Document Created: 2016-12-17 03:15:53
Document Modified: 2016-12-17 03:15:53
| 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 91971 |
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