81 FR 94440 - Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 11.9, Orders and Modifiers, and Rule 11.13, Order Execution and Routing, To Enhance the Exchange's Midpoint Routing Functionality

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 247 (December 23, 2016)

Page Range		94440-94442
FR Document		2016-30947
Federal Register, Volume 81 Issue 247 (Friday, December 23, 2016)
[Federal Register Volume 81, Number 247 (Friday, December 23, 2016)]
[Notices]
[Pages 94440-94442]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-30947]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79603; File No. SR-BatsBYX-2016-41]


Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend 
Rule 11.9, Orders and Modifiers, and Rule 11.13, Order Execution and 
Routing, To Enhance the Exchange's Midpoint Routing Functionality

December 19, 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 December 16, 2016, Bats BYX Exchange, Inc. (the ``Exchange'' or 
``BYX'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I, II, 
and III 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.
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    \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).
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I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange filed a proposal to amend Rule 11.9, Orders and 
Modifiers, and Rule 11.13, Order Execution and Routing, to enhance the 
Exchange's midpoint routing functionality.
    The text of the proposed rule change is available at the Exchange's 
Web site at www.bats.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

[[Page 94441]]

the most significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend Rule 11.9, Orders and Modifiers, and 
Rule 11.13, Order Execution and Routing, to enhance the Exchange's 
midpoint routing functionality. Specifically, the Exchange proposes to 
amend Rule 11.13(b)(3)(Q) to adopt a new midpoint routing strategy 
known as RMPL. The Exchange also proposes to amend Rule 11.9(c)(9) to 
expand the routing strategies that Mid-Point Peg Orders may be coupled 
with to include the Destination Specific routing strategy described 
under Rule 11.13(b)(3)(E) and the proposed RMPL routing strategy 
described below.
RMPL Routing Strategy
    The Exchange proposes to amend Rule 11.13(b)(3)(Q) to adopt a new 
midpoint routing strategy known as RMPL. Currently, the Exchange offers 
the RMPT routing strategy, which is described under Rule 
11.13(b)(3)(Q). RMPT is a routing strategy under which a Mid-Point Peg 
Order \5\ checks the System \6\ for available shares and any remaining 
shares are then sent to destinations on the System routing table \7\ 
that support midpoint eligible orders. If any shares remain unexecuted 
after routing, they are posted on the BYX Book \8\ as a Mid-Point Peg 
Order, unless otherwise instructed by the User.\9\
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    \5\ In sum, a Mid-Point Peg Order is a limit order that after 
entry into the System, the price of the order is automatically 
adjusted by the System in response to changes in the NBBO to be 
pegged to the mid-point of the NBBO, or, alternatively, pegged to 
the less aggressive of the midpoint of the NBBO or one minimum price 
variation inside the same side of the NBBO as the order. See 
Exchange Rule 11.9(c)(9).
    \6\ The term ``System'' is defined as ``the 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(aa).
    \7\ The term ``System routing table'' refers to the proprietary 
process for determining the specific trading venues to which the 
System routes orders and the order in which it routes them. See 
Exchange Rule 11.13(b)(3). While the process for determining the 
specific trading venues to which orders are routed is proprietary, 
the Exchange publicly discloses the trading venues associated with 
each routing strategy via its Web site at http://cdn.batstrading.com/resources/features/bats_exchange_routing-strategies.pdf.
    \8\ The term ``BYX Book'' is defined as the ``System's 
electronic file of orders.'' See Exchange Rule 1.5(e).
    \9\ 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(cc).
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    The Exchange now proposes RMPL as an alternative to the RMPT 
routing strategy for those seeking to route Mid-Point Peg Orders to 
destinations that support midpoint eligible executions that are not 
included under the current RMPT routing strategy. Like RMPT, RMPL would 
be a routing strategy under which a Mid-Point 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 BYX Book as a Mid-Point Peg Order, unless otherwise instructed 
by the User. As it does for RMPT, the Exchange would determine via the 
System routing table the specific trading venues that support midpoint 
eligible orders to which the System would route RMPL orders. While RMPL 
will operate in an identical manner as RMPT, the trading venues that 
each routing strategy would route to and the order in which it routes 
them will differ. As is the case for RMPT, the Exchange may alter the 
trading venues included under RMPL and the order in which they are 
routed to from time to time in accordance with its System routing 
table.\10\
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    \10\ The Exchange notes that the trading venues to which other 
of its routing strategies route orders to are also determined in 
accordance with the System routing table. See e.g., Exchange Rule 
11.13(b)(3)(G) (listing a series of routing options whose 
destinations are determined by the System routing table, like the 
proposed revisions to Exchange Rule 11.13(b)(3)(Q)). See also 
subparagraphs (A), (B), (C), (D) and (I) of Exchange Rule 11.9(b)(3) 
[sic] (describing routing strategies that route orders to 
destinations on the System routing table).
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    The Exchange proposes to revise Rule 11.13(b)(3)(Q) to describe 
both the RMPT and proposed RMPL routing strategies. As a result of 
these revision, the construct of paragraph (b)(3)(Q) of Rule 11.13 
would be similar to paragraph (b)(3)(G) of Rule 11.13, which also 
delineates routing strategies that include different sets of 
destinations as determined by the System routing table.
Mid-Point Peg Order Routing
    The Exchange also proposes to amend Rule 11.9(c)(9) to expand the 
routing strategies that Mid-Point Peg Orders may be coupled with. 
Currently, Exchange Rule 11.9(c)(9) states that Mid-Point Peg Orders 
are not eligible for routing pursuant to Rule 11.13 unless routed 
utilizing the RMPT routing strategy.\11\ The Exchange now proposes to 
amend Rule 11.9(c)(9) to expand the routing strategies that Mid-Point 
Peg Orders may be coupled with to include the Destination Specific 
routing strategy described under Rule 11.13(b)(3)(E) and the proposed 
RMPL routing strategy described above.
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    \11\ The Exchange also proposes to amend the second to last 
sentence of Rule 11.9(c)(9) to correct an erroneous reference to 
Rule 11.13(a)(3)(Q) by replacing it with ``Rule 11.13(b)(3)''.
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    Destination Specific is a routing option under which an order 
checks the System for available shares and then is sent to an away 
trading center or centers specified by the User.\12\ As proposed, a 
User entering a Mid-Point Peg Order may select the Destination Specific 
routing strategy to route such order to a specific trading center or 
center that supports midpoint executions after being exposed to the BYX 
Book. This differs from RMPT and the proposed RMPL routing strategies 
in that the destinations orders subject to the RMPT and RMPL routing 
strategies are selected by the Exchange via the System routing table 
and not the User itself.
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    \12\ See Rule 11.13(b)(3)(E).
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act \13\ in general, and furthers the objectives of Section 
6(b)(5) of the Act \14\ 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. The proposed rule change 
also is designed to support the principles of Section 11A(a)(1) \15\ of 
the Act in that it seeks to assure fair competition among brokers and 
dealers and among exchange markets. The proposed rule change promotes 
just and equitable principles of trade because it would enhance the 
Exchange's midpoint routing functionality and provide Users with 
greater flexibility in routing Mid-Point Peg Orders to trading venues 
that support midpoint executions. This would save such Users from 
developing complicated order routing strategies on their own. The 
Exchange believes that the proposed rule change will also accomplish 
those ends by providing market participants with an additional 
voluntary routing strategies and options that will enable

[[Page 94442]]

them to easily access midpoint liquidity available on the Exchange and 
other trading venues. The Exchange notes that routing through the 
Exchange is voluntary and those seeking to access midpoint liquidity on 
other trading venues may do so directly and without the involvement of 
the Exchange. Therefore, the Exchange believes the proposal removes 
impediments to and perfects the mechanism of a free and open market and 
a national market system, and, in general, protects investors and the 
public interest.
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    \13\ 15 U.S.C. 78f(b).
    \14\ 15 U.S.C. 78f(b)(5).
    \15\ 15 U.S.C. 78k-1(a)(1).
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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, as amended. The 
Exchange provides routing services in a highly competitive market in 
which participants may avail themselves of a wide variety of routing 
options offered by self-regulatory organizations, alternative trading 
systems, other broker-dealers, market participants' own proprietary 
routing systems, and service bureaus. System enhancements, such as the 
changes proposed in this rule filing, do not burden competition, but 
rather encourage competition because they are designed to attract 
additional order flow to the Exchange through enhanced midpoint routing 
functionality. Such changes are intended to offer investors higher 
quality and better value than services offered by others. Encouraging 
competitors to provide higher quality and better value is the essence 
of a well-functioning competitive marketplace. Therefore, the Exchange 
does not believe the proposed rule change will result in any burden on 
intermarket competition that is not necessary or appropriate in 
furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No comments were solicited or received on the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed rule change does not: (A) 
Significantly affect the protection of investors or the public 
interest; (B) impose any significant burden on competition; and (C) by 
its terms, 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 \16\ and 
paragraph (f)(6) of Rule 19b-4 thereunder,\17\ the Exchange has 
designated this rule filing as non-controversial. The Exchange has 
given the Commission written notice of its 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.
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    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 17 CFR 240.19b-4.
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    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: (1) 
Necessary or appropriate in the public interest; (2) for the protection 
of investors; or (3) 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 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 SR-BatsBYX-2016-41 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-BatsBYX-2016-41. 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 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 Number SR-BatsBYX-2016-41, and should 
be submitted on or before January 13, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-30947 Filed 12-22-16; 8:45 am]
 BILLING CODE 8011-01-P
94440 Federal Register / Vol. 81, No. 247 / Friday, December 23, 2016 / Notices

CUBE Pilot permanent would continue Paper Comments SECURITIES AND EXCHANGE
to foster competition among liquidity COMMISSION
providers and maintain execution • Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities [Release No. 34–79603; File No. SR–
quality on the Exchange. The CUBE BatsBYX–2016–41]
Auction for small orders, as modified and Exchange Commission, 100 F Street
herein, would continue to operate to NE., Washington, DC 20549–1090. Self-Regulatory Organizations; Bats
create tighter markets and ensure that All submissions should refer to File BYX Exchange, Inc.; Notice of Filing
each order receives the best possible Number SR–NYSEMKT–2016–120. This and Immediate Effectiveness of a
price, which benefits investors by file number should be included on the Proposed Rule Change To Amend Rule
increasing competition thereby 11.9, Orders and Modifiers, and Rule
subject line if email is used. To help the
maximizing opportunities for price 11.13, Order Execution and Routing,
Commission process and review your
improvement. To Enhance the Exchange’s Midpoint
The Exchange notes that it operates in comments more efficiently, please use
only one method. The Commission will Routing Functionality
a highly competitive market in which
market participants can easily direct post all comments on the Commission’s December 19, 2016.
their orders to competing venues. In Internet Web site (http://www.sec.gov/ Pursuant to Section 19(b)(1) of the
such an environment, the Exchange rules/sro.shtml). Copies of the Securities Exchange Act of 1934 (the
must continually review, and consider submission, all subsequent ‘‘Act’’),1 and Rule 19b–4 thereunder,2
adjusting the services it offers and the amendments, all written statements notice is hereby given that on December
requirements it imposes to remain with respect to the proposed rule 16, 2016, Bats BYX Exchange, Inc. (the
competitive with other exchanges. For change that are filed with the ‘‘Exchange’’ or ‘‘BYX’’) filed with the
the reasons described above, the Commission, and all written Securities and Exchange Commission
Exchange believes that the proposed communications relating to the (the ‘‘Commission’’) the proposed rule
rule change reflects this competitive proposed rule change between the change as described in Items I, II, and
environment. Commission and any person, other than III below, which Items have been
those that may be withheld from the prepared by the Exchange. The
C. Self-Regulatory Organization’s Exchange has designated this proposal
Statement on Comments on the public in accordance with the
provisions of 5 U.S.C. 552, will be as a ‘‘non-controversial’’ proposed rule
Proposed Rule Change Received From change pursuant to Section 19(b)(3)(A)
Members, Participants, or Others available for Web site viewing and
printing in the Commission’s Public of the Act 3 and Rule 19b–4(f)(6)(iii)
No written comments were solicited thereunder,4 which renders it effective
Reference Room, 100 F Street NE.,
or received with respect to the proposed upon filing with the Commission. The
Washington, DC 20549, on official
rule change. Commission is publishing this notice to
business days between the hours of
III. Date of Effectiveness of the solicit comments on the proposed rule
10:00 a.m. and 3:00 p.m. Copies of the
Proposed Rule Change and Timing for change from interested persons.
filing also will be available for
Commission Action inspection and copying at the principal I. Self-Regulatory Organization’s
Within 45 days of the date of office of the Exchange. All comments Statement of the Terms of the Substance
publication of this notice in the Federal received will be posted without change; of the Proposed Rule Change
Register or up to 90 days (i) as the the Commission does not edit personal The Exchange filed a proposal to
Commission may designate if it finds identifying information from amend Rule 11.9, Orders and Modifiers,
such longer period to be appropriate submissions. You should submit only and Rule 11.13, Order Execution and
and publishes its reasons for so finding information that you wish to make Routing, to enhance the Exchange’s
or (ii) as to which the self-regulatory available publicly. All submissions midpoint routing functionality.
organization consents, the Commission should refer to File Number SR– The text of the proposed rule change
will: NYSEMKT–2016–120 and should be is available at the Exchange’s Web site
(A) By order approve or disapprove submitted on or before January 13, 2017. at www.bats.com, at the principal office
the proposed rule change, or of the Exchange, and at the
(B) institute proceedings to determine For the Commission, by the Division of
Commission’s Public Reference Room.
whether the proposed rule change Trading and Markets, pursuant to delegated
should be disapproved. authority.21 II. Self-Regulatory Organization’s
Eduardo A. Aleman, Statement of the Purpose of, and
IV. Solicitation of Comments Statutory Basis for, the Proposed Rule
Assistant Secretary.
Interested persons are invited to Change
[FR Doc. 2016–30945 Filed 12–22–16; 8:45 am]
submit written data, views, and In its filing with the Commission, the
BILLING CODE 8011–01–P
arguments concerning the foregoing, Exchange included statements
including whether the proposed rule concerning the purpose of and basis for
change is consistent with the Act. the proposed rule change and discussed
Comments may be submitted by any of any comments it received on the
the following methods: proposed rule change. The text of these
Electronic Comments statements may be examined at the
mstockstill on DSK3G9T082PROD with NOTICES

places specified in Item IV below. The
• Use the Commission’s Internet Exchange has prepared summaries, set
comment form (http://www.sec.gov/ forth in Sections A, B, and C below, of
rules/sro.shtml); or
• Send an email to rule-comments@ 1 15 U.S.C. 78s(b)(1).
sec.gov. Please include File Number SR– 2 17 CFR 240.19b–4.
NYSEMKT–2016–120 on the subject 3 15 U.S.C. 78s(b)(3)(A).

line. 21 17 CFR 200.30–3(a)(12). 4 17 CFR 240.19b–4(f)(6)(iii).

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94442 Federal Register / Vol. 81, No. 247 / Friday, December 23, 2016 / Notices

them to easily access midpoint liquidity pursuant to Section 19(b)(3)(A) of the Commission and any person, other than
available on the Exchange and other Act 16 and paragraph (f)(6) of Rule 19b– those that may be withheld from the
trading venues. The Exchange notes that 4 thereunder,17 the Exchange has public in accordance with the
routing through the Exchange is designated this rule filing as non- provisions of 5 U.S.C. 552, will be
voluntary and those seeking to access controversial. The Exchange has given available for Web site viewing and
midpoint liquidity on other trading the Commission written notice of its printing in the Commission’s Public
venues may do so directly and without intent to file the proposed rule change, Reference Room, 100 F Street NE.,
the involvement of the Exchange. along with a brief description and text Washington, DC 20549 on official
Therefore, the Exchange believes the of the proposed rule change at least five business days between the hours of
proposal removes impediments to and business days prior to the date of filing 10:00 a.m. and 3:00 p.m. Copies of such
perfects the mechanism of a free and of the proposed rule change, or such filing also will be available for
open market and a national market shorter time as designated by the inspection and copying at the principal
system, and, in general, protects Commission. office of the Exchange. All comments
investors and the public interest. At any time within 60 days of the received will be posted without change;
filing of the proposed rule change, the the Commission does not edit personal
B. Self-Regulatory Organization’s
Commission summarily may identifying information from
Statement on Burden on Competition
temporarily suspend such rule change if submissions. You should submit only
The Exchange does not believe that it appears to the Commission that such information that you wish to make
the proposed rule change will result in action is: (1) Necessary or appropriate in available publicly. All submissions
any burden on competition that is not the public interest; (2) for the protection should refer to File Number SR–
necessary or appropriate in furtherance of investors; or (3) otherwise in BatsBYX–2016–41, and should be
of the purposes of the Act, as amended. furtherance of the purposes of the Act. submitted on or before January 13, 2017.
The Exchange provides routing services If the Commission takes such action, the For the Commission, by the Division of
in a highly competitive market in which Commission shall institute proceedings Trading and Markets, pursuant to delegated
participants may avail themselves of a to determine whether the proposed rule authority.18
wide variety of routing options offered should be approved or disapproved. Eduardo A. Aleman,
by self-regulatory organizations, Assistant Secretary.
alternative trading systems, other IV. Solicitation of Comments
[FR Doc. 2016–30947 Filed 12–22–16; 8:45 am]
broker-dealers, market participants’ own Interested persons are invited to
BILLING CODE 8011–01–P
proprietary routing systems, and service submit written data, views, and
bureaus. System enhancements, such as arguments concerning the foregoing,
the changes proposed in this rule filing, including whether the proposed rule SECURITIES AND EXCHANGE
do not burden competition, but rather change is consistent with the Act. COMMISSION
encourage competition because they are Comments may be submitted by any of
designed to attract additional order flow the following methods: [Release No. 34–79595; File No. SR–
to the Exchange through enhanced BatsEDGX–2016–73]
midpoint routing functionality. Such Electronic Comments
• Use the Commission’s Internet Self-Regulatory Organizations; Bats
changes are intended to offer investors
comment form (http://www.sec.gov/ EDGX Exchange, Inc.; Notice of Filing
higher quality and better value than
and Immediate Effectiveness of a
services offered by others. Encouraging rules/sro.shtml); or
• Send an email to rule-comments@ Proposed Rule Change To Amend the
competitors to provide higher quality
sec.gov. Please include File Number SR– Market Data Section of Its Fee
and better value is the essence of a well-
BatsBYX–2016–41 on the subject line. Schedule To Adopt Fees for EDGX
functioning competitive marketplace.
Summary Depth and Amend Fees for
Therefore, the Exchange does not Paper Comments EDGX Depth
believe the proposed rule change will
result in any burden on intermarket • Send paper comments in triplicate December 19, 2016.
competition that is not necessary or to Secretary, Securities and Exchange Pursuant to Section 19(b)(1) of the
appropriate in furtherance of the Commission, 100 F Street NE., Securities Exchange Act of 1934
purposes of the Act. Washington, DC 20549–1090. (‘‘Act’’),1 and Rule 19b–4 thereunder,2
All submissions should refer to File notice is hereby given that, on December
C. Self-Regulatory Organization’s Number SR–BatsBYX–2016–41. This
Statement on Comments on the 6, 2016, Bats EDGX Exchange, Inc.
file number should be included on the (‘‘EDGX’’ or ‘‘Exchange’’) filed with the
Proposed Rule Change Received From subject line if email is used. To help the
Members, Participants, or Others Securities and Exchange Commission
Commission process and review your (‘‘SEC’’ or ‘‘Commission’’) the proposed
No comments were solicited or comments more efficiently, please use rule change as described in Items I, II,
received on the proposed rule change. only one method. The Commission will and III below, which Items have been
post all comments on the Commission’s prepared by the Exchange. The
III. Date of Effectiveness of the
Internet Web site (http://www.sec.gov/ Exchange has designated the proposed
Proposed Rule Change and Timing for
rules/sro.shtml). Copies of the rule change as one establishing or
Commission Action
submission, all subsequent changing a member due, fee, or other
Because the foregoing proposed rule amendments, all written statements charge imposed by the Exchange under
change does not: (A) Significantly affect
mstockstill on DSK3G9T082PROD with NOTICES

with respect to the proposed rule Section 19(b)(3)(A)(ii) of the Act 3 and
the protection of investors or the public change that are filed with the Rule 19b–4(f)(2) thereunder,4 which
interest; (B) impose any significant Commission, and all written
burden on competition; and (C) by its communications relating to the 18 17 CFR 200.30–3(a)(12).
terms, become operative for 30 days proposed rule change between the 1 15 U.S.C. 78s(b)(1).
from the date on which it was filed or 2 17 CFR 240.19b–4.

such shorter time as the Commission 16 15 U.S.C. 78s(b)(3)(A). 3 15 U.S.C. 78s(b)(3)(A)(ii).

may designate it has become effective 17 17 CFR 240.19b–4. 4 17 CFR 240.19b–4(f)(2).

VerDate Sep<11>2014 18:33 Dec 22, 2016 Jkt 241001 PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 E:\FR\FM\23DEN1.SGM 23DEN1
Document Created: 2016-12-23 12:29:01
Document Modified: 2016-12-23 12:29:01
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 94440