Federal Register / Vol. 80, No. 1 / Friday, January 2, 2015 / Notices 95 

17 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. 71375 

(January 23, 2014), 79 FR 4771 (January 29, 2014) 

(SR–BATS–2013–059; SR–BYX–2013–039). 

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 at 100 F Street NE., 

Washington, DC 20549–1090 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–EDGA– 

2014–34, and should be submitted on or 

before January 23, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Brent J. Fields, 

Secretary. 

[FR Doc. 2014–30698 Filed 12–31–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73936; File No. SR–BYX– 

2014–041] 

Self-Regulatory Organizations; BATS 

Y-Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend Rule 2.12 To 

Remove References to ‘‘Direct Edge 

ECN LLC’’ and ‘‘DE Route’’ 

December 24, 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 December 

22, 2014, BATS Y-Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BYX’’) 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 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 proposed rule 

change to amend Rule 2.12 to remove 

references to ‘‘Direct Edge ECN LLC’’ 

and ‘‘DE Route.’’ The Exchange does not 

propose to amend the requirements of 

this rule. 

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 

Earlier this year, the Exchange and its 

affiliate BATS Exchange, Inc. (‘‘BZX’’) 

received approval to affect a merger (the 

‘‘Merger’’) of the Exchange’s parent 

company, BATS Global Markets, Inc., 

with Direct Edge Holdings LLC, the 

indirect parent of EDGX Exchange, Inc. 

(‘‘EDGX’’) and EDGA Exchange, Inc. 

(‘‘EDGA’’, and together with BZX, BYX 

and EDGX, the ‘‘BGM Affiliated 

Exchanges’’).3 As a result, the Exchange 

amended Rule 2.12 to reflect that DE 

Route, the affiliated EDGA and EDGX 

routing broker dealer, would also act as 

the inbound router for routing orders 

from EDGA and EDGX to the Exchange. 

In the context of the Merger, the BGM 

Affiliated Exchanges are working to 

migrate EDGX and EDGA onto the BATS 

technology platform, and align certain 

system functionality, retaining only 

intended differences between the BGM 

Affiliated Exchanges. As a result of 

these efforts, the Exchange proposes to 

amend to amend [sic] Rule 2.12 to 

remove references to ‘‘Direct Edge ECN 

LLC’’ and ‘‘DE Route’’ to reflect that 

BATS Trading, Inc. will be the 

Exchange’s sole routing broker-dealer as 

of January 12, 2015. Thereafter, BATS 

Trading will serve as the sole inbound 

routing broker-dealer for the Exchange. 

The Exchange does not propose to 

amend the requirements of the rule. 

DE Route and BATS Trading provide 

Members of the Exchange, EDGA, EDGX 

and BZX with optional routing services 

to other market centers. Thus, in certain 

circumstances, DE Route and BATS 

Trading provides inbound routing from 

EDGA, EDGX, or BZX to the Exchange. 

Exchange Rule 2.12 governs this 

inbound routing of orders by DE Route 

and BATS Trading to the Exchange in 

DE Route’s and BATS Trading’s 

capacity as a facility of the Exchange. 

The Exchange proposes to amend Rule 

2.12 to remove all references to DE 

Route as BATS Trading will be the sole 

inbound routing service for the 

Exchange upon migration of EDGA and 

EDGX onto the BATS technology 

platform. The Exchange does not 

propose to amend the requirements of 

this rule. Therefore, the conditions and 

limitations set forth in Exchange Rule 

2.12(a) will continue to require that: 

• The Exchange enter into (a) a plan 

pursuant to Rule 17d–2 under the Act 

with a non-affiliated self-regulatory 

organization (‘‘SRO’’) to relieve the 

Exchange of regulatory responsibilities 

for BATS Trading with respect to rules 

that are common rules between the 

Exchange and the non-affiliated SRO, 

and (b) a regulatory services contract 

(‘‘Regulatory Contract’’) with a nonaffiliated SRO to perform regulatory 

responsibilities for BATS Trading for 

unique Exchange rules. 

• The Regulatory Contract require the 

Exchange to provide the non-affiliated 

SRO with information, in an easily 

accessible manner, regarding all 

exception reports, alerts, complaints, 

trading errors, cancellations, 

investigations, and enforcement matters 

(collectively ‘‘Exceptions’’) in which 

BATS Trading is identified as a 

participant that has potentially violated 

Exchange or Commission rules, and 

requires that the non-affiliated SRO 

provide a report, at least quarterly, to 

the Exchange quantifying all Exceptions 

in which BATS Trading is identified as 

a participant that has potentially 

violated Exchange or Commission rules. 

• The Exchange, on behalf of holding 

company indirectly owning the 

Exchange, establish and maintain 

procedures and internal controls 

reasonably designed to ensure that 

BATS Trading does not develop or 


asabaliauskas on DSK5VPTVN1PROD with NOTICES
96 Federal Register / Vol. 80, No. 1 / Friday, January 2, 2015 / Notices 

4See Exchange Rule 2.12(a)(2). 

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

6 15 U.S.C. 78f(b)(5). 7 15 U.S.C. 78k–1(a)(1). 

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

9 17 CFR 240.19b–4. 

10 17 CFR 240.19b–4(f)(6). As required under Rule 

19b–4(f)(6)(iii), the Exchange provided the 

Commission with written notice of its intent to file 

the proposed rule change, along with a brief 

description and the 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. 11 17 CFR 240.19b–4(f)(6). 12 17 CFR 240.19b–4(f)(6)(iii). 

implement changes to its system based 

on non-public information obtained as a 

result of its affiliation with the 

Exchange, until such information is 

available generally to similarly situated 

Members of the Exchange. 

• The Exchange furnish to BATS 

Trading only the same information and 

on the same terms as the Exchange 

makes available in the normal course of 

business to other users.4

In addition, provided the conditions 

in Exchange Rule 2.12 are complied 

with, and provided further that BATS 

Trading operates as an outbound router 

on behalf of BZX on the same terms and 

conditions as it does for the Exchange, 

and in accordance with the rules of 

BZX, BATS Trading may provide 

inbound routing services to the 

Exchange from BZX. BATS Trading 

provides members of the BGM Affiliated 

Exchanges (including BZX) with 

optional routing services to other market 

centers, which may include routing 

from a BGM Affiliated Exchange to the 

Exchange. Therefore, the Exchange 

proposes to remove reference to BZX as 

BATS Trading will be required under 

Exchange Rule 2.12 to operate as an 

outbound router on behalf of each BATS 

Exchange on the same terms and 

conditions as it does for the Exchange, 

and in accordance with the rules of each 

BATS Exchange, BATS Trading may 

provide inbound routing services to the 

Exchange from each BATS Exchange. 

The Exchange believes that Rule 2.12 

will continue to adequately manage the 

potential for conflicts of interest that 

could arise from BATS Trading routing 

orders to the Exchange. 

Implementation Date 

The Exchange intends to implement 

the proposed rule change on or about 

January 12, 2015, which is the 

anticipated date upon which the 

migration of the EDGA and EDGX to the 

BATS technology platform will be 

complete and BATS Trading, Inc. will 

act as the BGM Affiliated Exchange’s 

sole routing broker-dealer. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule changes are consistent 

with Section 6(b) of the Act 5 and further 

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

Act 6 because they are designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 

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) 7 of the 

Act in that it seeks to assure fair 

competition among brokers and dealers 

and among exchange markets. The 

Exchange does not propose to amend 

the requirements of the rule and the 

proposed rule change is intended only 

to reflect that BATS Trading will be the 

Exchange’s sole routing broker-dealer 

upon migration of the EDGA and EDGX 

to the BATS technology platform. A 

consistent technology offering through 

the use of a single routing broker-dealer 

by each of the BGM Affiliated Exchange 

will, in turn, simplify the technology 

implementation, changes and 

maintenance by users of the Exchange 

that are also participants on EDGA, 

EDGX, and BZX. As such, the proposed 

rule change would foster cooperation 

and coordination with persons engaged 

in facilitating transactions in securities 

and would remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system. 

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 reiterates that the proposed 

rule change is being proposed in the 

context of the technology integration of 

the BGM Affiliated Exchanges. Thus, 

the Exchange believes this proposed 

rule change is necessary to permit fair 

competition among national securities 

exchanges. In addition, the Exchange 

believes the proposed rule change will 

benefit Exchange participants in that it 

is one of several changes necessary to 

achieve a consistent technology offering 

by the BGM Affiliated Exchanges. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has designated this rule 

filing as non-controversial under 

Section 19(b)(3)(A) of the Act 8 and 

paragraph (f)(6) of Rule 19b–4 

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) 

thereunder.10

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 11 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 12

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay in order to permit the 

Exchange to implement the proposed 

rule change on January 12, 2015, which 

is the anticipated date upon which the 

migration of EDGA and EDGX to the 

BATS technology platform will be 

complete and BATS Trading will serve 

as the Exchange’s sole routing brokerdealer. The Exchange states that waiver 

of the operative delay is consistent with 

the protection of investors and the 

public interest because it will allow 

BATS Trading to act as the BGM 

Affiliated Exchanges’ sole routing 

broker-dealer upon migration of EDGX 

and EDGA to the BATS technology 

platform, thereby simplifying the 

technology integration for Members of 

the Exchange that are also participants 

on EDGX, EDGA, and BZX. In this 

regard, the Exchange notes that, since 

completion of the Merger, both 

Members and the BGM Affiliated 

Exchanges have made numerous 

systems changes in preparation for the 

technology migration occurring on 

January 12, 2015, the Exchange has 

issued frequent updates to Members 

informing them of the BGM Affiliated 

Exchange technology migration as well 

as its anticipated time line so that 

Members may make the requisite system 


asabaliauskas on DSK5VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 1 / Friday, January 2, 2015 / Notices 97 

13For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

14 15 U.S.C. 78s(b)(2)(B). 15 17 CFR 200.30–3(a)(12). 

changes, and the Exchange has 

conducted multiple testing 

opportunities for Members to ensure 

that both Members’ and the Exchange’s 

systems will operate in accordance with 

the proposed rule change on January 12, 

2015. The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest. 

Therefore, the Commission hereby 

waives the operative delay and 

designates the proposed rule change 

operative upon filing.13

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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) of the Act 14 to 

determine whether the proposed rule 

change 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 Number SR– 

BYX–2014–041 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–BYX–2014–041. 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 at 100 F Street NE., 

Washington, DC 20549–1090 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–BYX– 

2014–041, and should be submitted on 

or before January 23, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Brent J. Fields, 

Secretary. 

[FR Doc. 2014–30695 Filed 12–31–14; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #14102] 

Missouri Disaster #MO–00072 

Declaration of Economic Injury 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 1. 

SUMMARY: This is an amendment of the 

Economic Injury Disaster Loan (EIDL) 

declaration for the State of Missouri, 

dated 09/03/2014. 

Incident: Civil Unrest. 

Incident Period: 08/09/2014 and 

continuing through 12/17/2014. 

Effective Date: 12/22/2014. 

EIDL Loan Application Deadline Date: 

06/03/2015. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: The notice 

of the Economic Injury disaster 

declaration for the State of Missouri, 

dated 09/03/2014 is hereby amended to 

establish the incident period for this 

disaster as beginning 08/09/2014 and 

continuing through 12/17/2014. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Number 59002) 

Dated: December 22, 2014. 

Maria Contreras-Sweet, 

Administrator. 

[FR Doc. 2014–30733 Filed 12–31–14; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #14202 and #14203] 

New York Disaster #NY–00124 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of New York (FEMA–4204– 

DR), dated 12/22/2014. 

Incident: Severe Winter Storm, 

Snowstorm, and Flooding. 

Incident Period: 11/17/2014 through 

11/26/2014. 

Effective Date: 12/22/2014. 

Physical Loan Application Deadline 

Date: 02/20/2015. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 09/22/2015. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

12/22/2014, Private Non-Profit 

organizations that provide essential 

services of governmental nature may file 

disaster loan applications at the address 

listed above or other locally announced 

locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Cattaraugus, 

Chautauqua, Erie, Genesee, 

Jefferson, Lewis, Orleans, Saint 

Lawrence, Wyoming. 


asabaliauskas on DSK5VPTVN1PROD with NOTICES