Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices 19383 

13See 15 U.S.C. 78s(b)(3)(a)(ii). 

14See 17 CFR 240.19b–4(f)(6). In addition, Rule 

19b–4(f)(6) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change at least five business 

days prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

15See 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 4See Rule 1000. 

(C) Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

No written comments were either 

solicited or received. 

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)(ii) of the Act 13 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.14

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) 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 rule-comments@

sec.gov. Please include File No. SR– 

BATS–2015–25 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 No. 

SR–BATS–2015–25. 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–BATS–2015–25 and should be 

submitted on or before May 1, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–08204 Filed 4–9–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74649; File No. SR–NYSE– 

2015–14] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Amending Rule 

1000 To Reflect That Exchange 

Systems Will Reject Incoming Orders 

of Over 1,000,000 Shares That Are 

Marketable Upon Arrival 

April 6, 2015. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on March 23, 

2015, New York Stock Exchange LLC 

(‘‘NYSE’’ or ‘‘Exchange’’) 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 self-regulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Rule 1000 to reflect that Exchange 

systems will reject incoming orders of 

over 1,000,000 shares that are 

marketable upon arrival. The text of the 

proposed rule change is available on the 

Exchange’s Web site at www.nyse.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 

self-regulatory organization 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 those 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 1000 (Automatic Executions) to 

reflect that Exchange systems will reject 

incoming orders of over 1,000,000 

shares that are marketable upon arrival 

against interest in Exchange systems. 

Currently, Exchange systems accept 

orders up to a maximum order size of 

25,000,000 shares.4 Rule 1000 provides 

that market and limit orders of up to 

1,000,000 shares are eligible to initiate 

or participate in automatic executions 

on the Exchange. However, because an 

order of over 1,000,000 shares in size is 

ineligible for automatic execution, if 

such an order is marketable on arrival, 

the Exchange suspends automatic 

executions in that security and it is 

auto-quoted with a ‘‘slow’’ quote 

mstockstill on DSK4VPTVN1PROD with NOTICES

19384 Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices 

5Rule 611 of Regulation NMS requires that 

trading centers have policies and procedures 

reasonably designed to prevent trade throughs on 

that trading center of protected quotations in NMS 

Stocks. 17 CFR 242.611(a). Importantly, to be a 

protected quotation, it must be an automated 

quotation that is the best bid or offer of an 

exchange. 17 CFR 242.603(b)(57)(iii). 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78s(b)(3)(A)(iii). 

9 17 CFR 240.19b–4(f)(6). 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s intent 

to file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

13 15 U.S.C. 78s(b)(3)(C). 

condition. When a symbol is in a 

‘‘slow’’ quote mode, its quote is not 

protected under Regulation NMS.5

Orders for more than 1,000,000 shares 

that are not marketable upon arrival do 

not suspend automatic executions or 

cause a slow quote condition. Rather, 

non-marketable orders of over 1,000,000 

shares in size rest on the Exchange’s 

limit order book and are available as 

liquidity to interact with incoming 

contra-side interest. 

The Exchange proposes to amend 

Rule 1000 to provide that incoming 

orders of over 1,000,000 shares that are 

marketable upon arrival would be 

rejected. The Exchange believes it is 

appropriate to reject marketable orders 

ineligible for automatic execution in 

order to reduce the potential that the 

Exchange would suspend automatic 

executions and disseminate a ‘‘slow’’ 

quote that permits other market centers 

to trade through the Exchange’s 

quotations in that security. In addition, 

the Exchange notes that an order of such 

size that is marketable upon arrival may 

be an order entry error, and therefore 

rejecting the order puts the submitter of 

the order on notice of the large size of 

the order. 

Because of the technology changes 

associated with the proposed rule 

change, the Exchange proposes to 

announce the implementation date via 

Trader Update. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,6 in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act,7 in particular, because it is 

designed to prevent fraudulent and 

manipulative acts and practices, 

promote just and equitable principles of 

trade, remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and protect investors and the 

public interest. In particular, the 

Exchange believes that rejecting large 

orders ineligible for automatic execution 

rather than triggering a suspension of 

automatic executions in the relevant 

security would remove impediments to 

and perfect the mechanism of a free and 

open market and a national market 

system by reducing the potential that 

the Exchange would suspend automatic 

executions and disseminate a ‘‘slow’’ 

quote that permits other market centers 

to trade through the Exchange’s 

quotations in the relevant security. The 

Exchange also believes that rejecting 

large orders ineligible for automatic 

execution would assist with the 

maintenance of fair and orderly markets 

by helping to mitigate the risk that a 

large order that is marketable upon 

arrival may be an order entry error, and 

therefore rejecting the order puts the 

submitter of the order on notice of the 

large size of the order. For the same 

reasons, the proposal is also designed to 

protect investors as well as the public 

interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule change is not intended to 

address competitive issues but rather to 

prevent unnecessary suspension of 

automatic executions on the Exchange’s 

marketplace and reduce the likelihood 

that large, marketable orders may be an 

order entry error. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 8 and Rule 

19b–4(f)(6) thereunder.9 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 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder.10

A proposed rule change filed under 

Rule 19b–4(f)(6) 11 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),12 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. 

At any time within 60 days of the 

filing of such 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.13

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 rule-comments@

sec.gov. Please include File Number SR– 

NYSE–2015–14 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 SR–NYSE–2015–14. 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 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices 19385 

14 17 CFR 200.30–3(a)(59). 

1 15 U.S.C.78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 74282 

(February 23, 2015), 80 FR 9496. 

4See letter from Theodore R. Lazo, Managing 

Director and Associate General Counsel, SIFMA, to 

Brent J. Fields, Secretary, the Commission (Mar. 20, 

2015). 

5 15 U.S.C. 78s(b)(2). 

6 Id. 

7 17 CFR 200.30–3(a)(31). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

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 will also be available for 

inspection and copying at the NYSE’s 

principal office and on its Internet Web 

site at www.nyse.com. 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–NYSE– 

2015–14 and should be submitted on or 

before May 1, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–08197 Filed 4–9–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74648; File No. SR–NYSE– 

2015–06] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Designation of a Longer Period for 

Commission Action on a Proposed 

Rule Change Adopting New Rule 124 

To Conduct a Midday Auction and 

Amending Rule 104 To Codify the 

Obligation of Designated Market 

Makers To Facilitate the Midday 

Auction 

April 6, 2015. 

On February 2, 2015, New York Stock 

Exchange LLC (‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to adopt new Rule 124 to 

conduct a daily single-priced auction at 

a specified time in lower-volume 

securities (‘‘Midday Auction’’) and to 

amend Rule 104 to codify the obligation 

of Designated Market Makers to 

facilitate the Midday Auction. The 

proposed rule change was published in 

the Federal Register on February 23, 

2015.3 On March 20, 2015, the 

Securities Industry and Financial 

Markets Association (‘‘SIFMA’’) 

submitted a comment letter to the 

Commission.4 The Commission has 

received no other comment on the 

proposal. 

Section 19(b)(2) of the Act 5 provides 

that, within 45 days of the publication 

of the notice of the filing of a proposed 

rule change, or within such longer 

period up to 90 days as the Commission 

may designate if it finds such longer 

period to be appropriate and publishes 

its reasons for so finding, or as to which 

the self-regulatory organization 

consents, the Commission shall either 

approve the proposed rule change, 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether the proposed rule change 

should be disapproved. The 

Commission is extending this 45-day 

time period. 

The Commission finds that it is 

appropriate to designate a longer period 

within which to take action on the 

proposed rule change so that it has 

sufficient time to consider the proposed 

rule change. Accordingly, the 

Commission, pursuant to Section 

19(b)(2) of the Act,6 designates May 24, 

2015, as the date by which the 

Commission should either approve or 

disapprove or institute proceedings to 

determine whether to disapprove the 

proposed rule change (File Number SR– 

NYSE–2015–06). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–08196 Filed 4–9–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of eCareer Holdings, Inc.; 

Order of Suspension of Trading 

April 8, 2015. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of eCareer 

Holdings, Inc., (‘‘eCareer’’) because of 

questions regarding the accuracy of 

publicly available information about the 

company’s operations, including 

questions about the accuracy of 

statements in its filings regarding 

eCareer’s use of investor proceeds for 

working capital, its sales of securities in 

unregistered transactions and 

compensation received by eCareer’s 

CEO and chairman, including 

information in eCareer’s Form 10–K for 

the fiscal year ended June 30, 2014, 

Form 10–Q for the period ended 

September 30, 2014, and Form 10–Q for 

the period ended December 31, 2014. Its 

stock is quoted on OTC Link, operated 

by OTC Markets Group, Inc., under the 

ticker: ECHI. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of eCareer. 

Therefore, it is ordered, pursuant to 

Section 12(k) of the Securities Exchange 

Act of 1934, that trading in the 

securities of the above-listed company is 

suspended for the period from 9:30 a.m. 

EDT on April 8, 2015, through 11:59 

p.m. EDT on April 21, 2015. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–08373 Filed 4–8–15; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74655; File No. SR–C2– 

2015–005] 

Self-Regulatory Organizations; C2 

Options Exchange, Incorporated; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Amend the Fees Schedule 

April 6, 2015. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that, on April 1, 

2015 C2 Options Exchange, 

Incorporated (the ‘‘Exchange’’ or ‘‘C2’’) 

filed with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

the proposed rule change as described 

in Items I, II, and III below, which Items 

have been prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend its 

Fees Schedule. The text of the proposed 

mstockstill on DSK4VPTVN1PROD with NOTICES