Federal Register / Vol. 79, No. 213 / Tuesday, November 4, 2014 / Notices 65447 

13 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3A Member is defined as ‘‘any registered broker 

or dealer that has been admitted to membership in 

the Exchange.’’ See Exchange Rule 1.5(n). 

4See Securities Exchange Act Release No. 73412 

(October 23, 2014) (SR–BATS–2014–052), available 

at http://www.sec.gov/rules/sro/bats.shtml. 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

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 rulecomments@sec.gov. Please include File 

Number SR–MIAX–2014–54 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–MIAX–2014–54. 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–MIAX– 

2014–54, and should be submitted on or 

before November 25, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26124 Filed 11–3–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73462; File No. SR–BATS– 

2014–053] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Related to Fees for Use 

of BATS Exchange, Inc. 

October 29, 2014. 

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 October 

24, 2014, BATS Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BATS’’) filed with the 

Securities and Exchange Commission 

(‘‘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 the Substance 

of the Proposed Rule Change 

The Exchange filed a proposal to 

amend the fee schedule applicable to 

Members 3 and non-members of the 

Exchange pursuant to BATS Rules 

15.1(a) and (c). Changes to the fee 

schedule pursuant to this proposal are 

effective upon filing. 

The text of the proposed rule change 

is available at the Exchange’s Web site 

at http://www.batstrading.com/, at the 

principal office of the Exchange, and at 

the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to modify its 

fee schedule effective immediately in 

order to adopt pricing charged by the 

Exchange for Supplemental Peg Orders 

and several new routing strategies, as 

described below. 

Supplemental Peg Orders 

The Exchange recently adopted a new 

order type, the Supplemental Peg Order, 

which is a non-displayed limit order 

described in Rule 11.9(c)(19). The 

Exchange proposes to modify its fee 

schedule to make clear that standard 

pricing for all other types of NonDisplayed Liquidity, as defined in the 

fee schedule, applies to Supplemental 

Peg Orders. Thus, the Exchange 

proposes to provide a rebate of $0.0017 

per share for all Supplemental Peg 

Orders executed on the Exchange that 

add liquidity in securities priced $1.00 

and above. As with all orders adding 

liquidity to the Exchange, Supplemental 

Peg Orders in securities priced below 

$1.00 would not receive a liquidity 

rebate. 

Routing Strategies 

The Exchange recently filed a 

proposed rule change to adopt several 

new routing options in connection with 

the Exchange’s technology integration 

with EDGA Exchange, Inc. (‘‘EDGA’’) 

and EDGX Exchange, Inc. (‘‘EDGX’’).4

The Exchange proposes to adopt pricing 

for the new routing options, as set forth 

below, and also proposes various 

structural changes to the fee schedule. 

First, the Exchange adopted two new 

routing strategies that are similar to the 

Exchange’s existing standard best 

execution routing strategies. 

Specifically, the Exchange adopted 

ROUT and ROUX, which are similar to 

Parallel D and Parallel 2D. Accordingly, 

the Exchange proposes to charge the 

same fee for ROUT and ROUX routed 

executions as it does for Parallel D and 


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5See id. 

Parallel 2D routing strategies. 

Specifically, the Exchange proposes to 

charge $0.0029 per share for orders in 

securities priced $1.00 and above 

executed through ROUT and ROUX at a 

venue other than a dark liquidity venue 

(i.e., through DRT routing). As it does 

currently, any execution through DRT 

routing at a dark liquidity venue will 

continue to be charged $0.0020 per 

share. Because DRT routing can be 

combined with various other new 

routing strategies set forth below, the 

Exchange also proposes to modify the 

description in the ‘‘Other Non-Standard 

Routing Options’’ section of the fee 

schedule to explicitly state that any 

liquidity removed through DRT at a 

venue other than through the SLIM 

routing strategy is $0.0020 per share 

(SLIM currently charges $0.0026 for 

executions at dark liquidity venues). 

This reflects an expansion of the current 

provision that applies a rate of $0.0020 

per share for BYX [sic] + DRT 

Destination Specific Orders to apply 

that same rate to all executions that 

remove liquidity at a dark liquidity 

venue. In addition, to conform to the fee 

charged for Parallel D and Parallel 2D 

routed executions in securities priced 

below $1.00, the Exchange proposes to 

charge a fee that is 0.29% of the total 

dollar value for any execution of a 

ROUT or ROUX routed order in 

securities priced below $1.00. 

Second, the Exchange adopted 

various new strategies that are similar 

(but not identical) to existing 

Destination Specific routing offered by 

the Exchange. The Exchange proposes to 

conform such new strategies with 

pricing for the similar existing strategies 

as set forth below. For instance, the 

Exchange adopted two new routing 

strategies that can remove liquidity 

specifically targeted at NYSE, RDOT 

and RDOX. The Exchange proposes to 

charge the same fee of $0.0026 per share 

for RDOT and RDOX routed executions 

at NYSE as it does for Destination 

Specific executions at NYSE. The 

Exchange also adopted the INET routing 

strategy, which is specifically targeted at 

NASDAQ. The Exchange proposes to 

charge the same fee of $0.0029 per share 

for INET routed executions at NASDAQ 

as it does for Destination Specific 

executions at NASDAQ. Finally, the 

Exchange adopted the ROLF routing 

strategy, which is specifically targeted at 

the LavaFlow ECN. The Exchange 

proposes to charge the same fee for 

ROLF as it does for all Destination 

Specific routing at venues not included 

in the Exchange’s One Under/Better 

Program (where the Exchange seeks to 

improve by $0.0001 per share the fee 

charged or rebate provided by each 

venue in the program). Thus, the 

Exchange proposes to charge $0.0030 

per share for any ROLF routed 

execution at LavaFlow ECN. 

Third, the Exchange adopted the new 

Post to Away routing strategy, which, 

for the first time on the Exchange, can 

result in the Exchange routing an order 

to an away venue to be posted to such 

venue. In addition to the Post to Away 

routing strategy, the RDOT, RDOX and 

INET routing strategies can also post at 

away venues. The Exchange proposes to 

adopt the following pricing for 

executions in securities priced $1.00 

and above through these routing 

strategies: (1) Add liquidity at BYX 

through Post to Away routing: $0.0018 

charge per share; (2) add liquidity at 

EDGX through Post to Away routing: 

$0.0020 rebate per share; (3) add 

liquidity at EDGA through Post to Away 

routing: $0.0005 charge per share; (4) 

add liquidity at NYSE through Post to 

Away, RDOT or RDOX routing: $0.0015 

rebate per share; (5) add liquidity at 

NYSE ARCA through Post to Away 

routing for Tape B: $0.0022 rebate per 

share; (6) add liquidity at NYSE ARCA 

through Post to Away routing for Tapes 

A and C: $0.0021 rebate per share; (7) 

add liquidity at NYSE MKT through 

Post to Away routing: $0.0015 rebate per 

share; (8) add liquidity at NASDAQ 

through Post to Away or INET routing: 

$0.0015 rebate per share; (9) add 

liquidity at NASDAQ BX through Post 

to Away routing: $0.0020 charge per 

share. Each of the proposed fees and 

rebates set forth above is equal to or 

roughly equivalent to the standard fee or 

rebate (i.e., without taking any potential 

tiered pricing into account) that will be 

charged or provided pursuant to the 

applicable exchange’s fee schedule. 

More importantly, the Exchange notes 

that these are the same fees and rebates 

charged and provided by the Exchange’s 

affiliates, EDGA and EDGX, for identical 

routing strategies that post to away 

market venues. Accordingly, the 

Exchange is seeking to conform to such 

pricing schedules. In addition to 

standard pricing set forth above, the 

Exchange proposes to provide 

executions through the RDOT, RDOX, 

INET, and Post to Away routing 

strategies that post to away markets in 

securities priced below $1.00 without 

any fee or rebate, as this is the pricing 

structure in place at many of the away 

venues where orders can be routed and 

provides for a simplistic pricing model. 

Fourth, the Exchange notes that 

although orders sent through each of the 

routing strategies described in the 

preceding paragraph can provide 

liquidity on away market venues, such 

strategies can also result in orders 

removing liquidity. Accordingly, the 

Exchange proposes to adopt fees for 

orders that remove liquidity through 

such routing strategies. For orders that 

remove liquidity through Post to Away 

routing, the Exchange proposes to 

charge the same fees that have been 

proposed for ROUT and ROUX routed 

executions. Specifically, the Exchange 

proposes to charge $0.0029 per share for 

orders in securities priced $1.00 and 

above that are routed by the Exchange 

through the Post to Away routing 

strategy and remove liquidity. The 

Exchange also proposes a fee that is 

0.29% of the total dollar value for any 

execution of a Post to Away routed 

order in securities priced below $1.00 

that removes liquidity. The Exchange 

also has adopted new routing strategies 

that can send orders to the NYSE that 

can, in turn, be re-routed by the NYSE. 

For each of these routing strategies, 

RDOT, RDOX and Post to Away, the 

Exchange proposes to adopt a fee of 

$0.0030 per share for any execution of 

an order that has been re-routed by 

NYSE. 

Finally, the Exchange notes that it has 

proposed stylistic and corrective 

changes throughout the fee schedule. 

For instance, because the Exchange is 

adopting routing strategies that will now 

add liquidity to away market venues, 

the Exchange has proposed to include 

language throughout its routing fees 

stating whether an order adds or 

removes liquidity through such strategy. 

Similarly, in certain places where 

routing strategies referred to specific 

orders or order types rather than routing 

strategies, the Exchange has modified 

the description, which is consistent 

with its recent routing filing.5 The 

Exchange has also proposed to eliminate 

references to the CYCLE and RECYCLE 

routing strategies. The Exchange no 

longer offers the CYCLE routing strategy 

and has eliminated such routing strategy 

from its rules. Similarly, the Exchange 

recently updated its rules to rename the 

RECYCLE strategy as Re-Route. 

However, the Exchange proposes to 

omit reference to Re-Route from its fee 

schedule (other than orders ‘‘re-routed’’ 

by NYSE, as described above) rather 

than to replace RECYCLE with ReRoute. Orders that have been routed to 

away market centers through a routing 

strategy offered by the Exchange that are 

posted to the Exchange’s order book and 

subject to the Re-Route option may be 

routed away from the Exchange again 

pursuant to Rule 11.13(a)(4). The 

Exchange maintains the routing strategy 

instruction on an order when re-routing 


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6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(4) and (5). 

pursuant to the Re-Route option, and 

thus, charges the fee related to such 

routing strategy rather than to apply a 

specific ‘‘Re-Route’’ fee. In addition to 

these changes, the Exchange has 

proposed various additional stylistic 

changes, such as adopting a new subheading for routed executions in 

securities priced below $1.00, 

eliminating quotation marks and other 

minor word changes. 

The Exchange proposes to implement 

the amendments to its fee schedule 

effective immediately. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the requirements of the Act and the 

rules and regulations thereunder that 

are applicable to a national securities 

exchange, and, in particular, with the 

requirements of Section 6 of the Act.6

Specifically, the Exchange believes that 

the proposed rule change is consistent 

with Sections 6(b)(4) of the Act and 

6(b)(5) of the Act,7 in that it provides for 

the equitable allocation of reasonable 

dues, fees and other charges among 

members and other persons using any 

facility or system which the Exchange 

operates or controls. The Exchange 

notes that it operates in a highly 

competitive market in which market 

participants can readily direct order 

flow to competing venues if they deem 

fee levels at a particular venue to be 

excessive. 

The Exchange believes that the 

proposed rebate for liquidity added 

through use of Supplemental Peg Orders 

is reasonable and equitable because it is 

the same rebate provided for other types 

of non-displayed liquidity on the 

Exchange. The Exchange does not 

currently believe that there is any 

reason to differentiate Supplemental Peg 

Orders from other types of nondisplayed liquidity. The Exchange also 

believes that its proposed rebate for 

Supplemental Peg Orders is nondiscriminatory because it applies 

uniformly to all Members, and again, is 

based on existing pricing for similar 

orders. 

The Exchange believes that the 

proposed changes to the Exchange’s fee 

schedule to add fees for the ROUT and 

ROUX routing strategies represent a 

reasonable and equitable allocation of 

fees because they are identical to the 

fees charged for executions through 

similar routing strategies offered by the 

Exchange, namely Parallel D and 

Parallel 2D. The Exchange further 

believes that the proposed fees for 

ROUT and ROUX are nondiscriminatory because they apply 

uniformly to all Members, and again, are 

based on existing pricing for similar 

orders. Similarly, the Exchange believes 

that expansion of standard DRT pricing 

of $0.0020 per share for all executions 

at a dark liquidity venue other than 

through SLIM routing is reasonable and 

equitable because it is consistent with 

existing pricing for executions at dark 

liquidity venues. In addition, the 

Exchange believes that this pricing is 

non-discriminatory because it applies 

uniformly to all Members and is based 

on existing DRT routing pricing. 

The Exchange believes that the 

proposed changes to the Exchange’s fee 

schedule to add fees for RDOT, RDOX, 

INET and ROLF routing strategies when 

removing liquidity represent a 

reasonable and equitable allocation of 

fees because they are identical to the 

fees charged for executions through 

similar routing strategies offered by the 

Exchange, namely Destination Specific 

orders to each applicable venue (i.e., 

NYSE for RDOT and RDOX, NASDAQ 

for INET and LavaFlow ECN through 

ROLF). The Exchange further believes 

that the proposed fees for RDOT, RDOX, 

INET and ROLF are non-discriminatory 

because they apply uniformly to all 

Members, and again, are based on 

existing pricing for similar orders. 

The Exchange also believes that its 

proposed pricing for Post to Away 

routing strategies that add liquidity in 

securities priced $1.00 and above are 

reasonable and equitable because they 

are equal to or roughly equivalent to the 

standard fee or rebate that will be 

charged or provided pursuant to the 

applicable exchange’s fee schedule and 

are identical to the same fees and 

rebates charged and provided by the 

Exchange’s affiliates, EDGA and EDGX, 

for identical routing strategies that post 

to away market venues. The Exchange 

also believes that its proposed pricing 

for Post to Away routing strategies that 

add liquidity in securities priced below 

$1.00 (i.e., no fee or rebate) is reasonable 

and equitable because most away 

venues charge no fee and provide no 

rebate for such orders. The Exchange 

further believes that the proposed fees 

and rebates for Post to Away are nondiscriminatory because they apply 

uniformly to all Members and, again, 

because they approximate the fee or 

rebate at the away venue. 

The Exchange also believes that its 

proposed fees for orders that remove 

liquidity when sent through the Post to 

Away routing is reasonable and 

equitable because it is identical to that 

proposed for ROUT and ROUX, and is 

thus, equivalent to the Exchange’s 

standard routing fees. The Exchange 

further believes that a slightly higher fee 

for orders re-routed by NYSE through 

the RDOT, RDOX and Post to Away 

routing strategies are is [sic] reasonable 

as it is the same fee charged by NYSE 

for routing. The Exchange again believes 

that its proposed fees are nondiscriminatory in that they apply 

uniformly to all Members and are 

intended to generally approximate 

routing costs and/or to align with 

existing routing pricing. 

Finally, the Exchange believes that 

the additional clarifications, stylistic 

changes, and elimination of reference to 

CYCLE and RECYCLE proposed by the 

Exchange are consistent with the Act as 

they will enhance the readability and 

clarity of the fee schedule. 

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 reiterates that the 

Supplemental Peg Order will be treated 

similar to most other non-displayed 

liquidity on the Exchange (other than 

Mid-Point Peg orders). Also, because the 

market for order execution is extremely 

competitive, Members may readily opt 

to disfavor the Exchange’s routing 

services if they believe that alternatives 

offer them better value. For orders 

routed through the routing strategies 

adopted by the Exchange, the proposed 

fees are in line with the fees charged for 

executions through other routing 

strategies offered by the Exchange and 

approximate the cost to the Exchange of 

executing midpoint orders on away 

trading venues. As stated above, the 

Exchange notes that it operates in a 

highly competitive market in which 

market participants can readily direct 

order flow to competing venues if they 

deem fee structures to be unreasonable 

or excessive. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any written 

comments from members or other 

interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

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


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65450 Federal Register / Vol. 79, No. 213 / Tuesday, November 4, 2014 / Notices 

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

9 17 CFR 240.19b–4(f). 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 72676 

(July 25, 2014), 79 FR 44520 (‘‘Notice’’). 

4See Securities Exchange Act Release No. 73083 

(September 11, 2014), 79 FR 55850 (September 17, 

2014). 

5See Letters from Suzanne H. Shatto to Secretary, 

Commission, dated August 19, 2014 (‘‘Shatto Letter 

I’’), September 18, 2014 (‘‘Shatto Letter II’’) and 

September 22, 2014 (‘‘Shatto Letter III’’). The 

Commission believes that the comments raise 

general market structure issues that are beyond the 

scope of the proposed rule change. 

6See Letter from Eric Swanson, EVP and General 

Counsel, DirectEdge, to Secretary, Commission, 

dated September 12, 2014 (‘‘Exchange Letter’’). 

According to the Exchange, Shatto Letter I did not 

raise issues germane to the instant proposed rule 

change, and therefore the Exchange is not 

responding to the comments. 

7 In Amendment No. 1, the Exchange: (1) 

Removed the proposed rule text related to Single 

Re-Price and Short Sale Single Re-Price instructions 

to indicate that the Exchange will no longer offer 

such functionality; (2) added language to the Post 

Only instruction definition to provide that the 

highest possible rebate paid and the highest 

possible fee will be used to determine whether an 

order with a Post Only instruction will execute 

against orders on the EDGX Book; (3) added 

rationale to the statutory basis section for 

suspending the discretion of an order with a Hide 

Not Slide instruction to execute at the Locking Price 

when a contra-side order that equals the Locking 

Price is displayed by the System on the EDGX Book 

in order to avoid an apparent violation of that 

contra-side displayed order’s priority; and (4) made 

a series of non-substantive, corrective changes to 

the Notice. Amendment No. 1 has been placed in 

the public comment file for SR–EDGX–2014–18 at 

http://www.sec.gov/comments/sr-edgx-2014-18/

edgx201418.shtml (see letter from Christopher 

Solgan, Regulatory Counsel, DirectEdge, to 

Secretary, Commission, dated October 15, 2014) 

and also is available on the Exchange’s Web site. 

8Amendment No. 2, dated October 17, 2014, was 

withdrawn on October 17, 2014. 

9 In Amendment No. 3, the Exchange specified 

that upon return to the Exchange, an order with the 

Routed and Returned Re-Pricing instruction will 

execute against marketable contra-side liquidity 

displayed on the EDGX Book. If there is no 

marketable contra-side liquidity displayed on the 

EDGX book upon return but such Routed and 

Returned Order would be displayed at a price that 

would be a Locking or Crossing Quotation, then 

such order will be displayed at a price that is one 

Minimum Price Variation lower (higher) than the 

Locking Price for orders to buy (sell), will be ranked 

at the mid-point of the NBBO with discretion to 

execute at the Locking Price. A subsequently 

arriving contra-side order could suspend the Routed 

and Returned Order’s discretion to execute at the 

Locking Price. Amendment No. 3 has been placed 

in the public comment file for SR–EDGX–2014–18 

at http://www.sec.gov/comments/sr-edgx-2014-18/

edgx201418.shtml (see letter from Christopher 

Solgan, Regulatory Counsel, DirectEdge, to 

Secretary, Commission, dated October 17, 2014) 

and also is available on the Exchange’s Web site. 

of the Act 8 and paragraph (f) of Rule 

19b–4 thereunder.9 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. 

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– 

BATS–2014–053 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–BATS–2014–053. 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–BATS– 

2014–053, and should be submitted on 

or before November 25, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26123 Filed 11–3–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73468; File No. SR–EDGX– 

2014–18] 

Self-Regulatory Organizations; EDGX 

Exchange, Inc.; Notice of Filing of 

Amendment Nos. 1 and 3 and Order 

Granting Accelerated Approval of a 

Proposed Rule Change, as Modified by 

Amendment Nos. 1 and 3, To Amend 

EDGX Rule 1.5 and Chapter XI 

Regarding Current System 

Functionality Including the Operation 

of Order Types and Order Instructions 

October 29, 2014. 

I. Introduction 

On July 16, 2014, EDGX Exchange, 

Inc. (‘‘Exchange’’ or ‘‘EDGX’’) 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 amend Rule 1.5 and Chapter 

XI of its rule book relating to the 

operation of order types and order 

instructions on the Exchange, trading 

sessions and openings and re-openings. 

The proposed rule change was 

published for comment in the Federal 

Register on July 31, 2014.3 On 

September 11, 2014, the Commission 

extended the time period for 

Commission action on the proposal to 

October 29, 2014.4 The Commission 

received three comment letters from the 

same commenter on the proposed rule 

change,5 as well as a letter from the 

Exchange regarding the first comment 

letter.6 On October 14, 2014, the 

Exchange filed Amendment No. 1 to the 

proposed rule change.7 On October 17, 

2014, the Exchange filed Amendment 

No. 2 to the proposed rule change, 

which was later withdrawn.8 On 

October 17, 2014, the Exchange filed 

Amendment No. 3 to the proposed rule 

change.9 The Commission is publishing 

this Notice and Order to solicit 

comment on Amendment Nos. 1 and 3 

and to approve the proposed rule 

change, as modified by Amendment 

Nos. 1 and 3, on an accelerated basis. 

II. Background 

The proposed rule change, as 

described in more detail below and in 

the Notice, amends Rule 1.5 and 


rmajette on DSK3VPTVN1PROD with NOTICES