Document ID: SEC-2010-0540-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Filing and Order Granting Temporary Effectiveness of Amendment to Plan Establishing Procedures, etc.
Posted Date: 2010-04-09T04:00Z

[Federal Register: April 9, 2010 (Volume 75, Number 68)]
[Notices]               
[Page 18246-18247]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09ap10-134]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61824, File No. 4-518]

 
Joint Industry Plan; Notice of Filing and Order Granting 
Temporary Effectiveness of Amendment to Plan Establishing Procedures 
Under Rule 605 of Regulation NMS

April 1, 2010.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 608 of Regulation NMS,\2\ notice is hereby 
given that on March 30, 2010, EDGA Exchange, Inc. (``EDGA'') and EDGX 
Exchange, Inc. (``EDGX'') submitted to the Securities and Exchange 
Commission (``SEC'' or ``Commission'') an amendment to the national 
market system plan that establishes procedures under Rule 605 of 
Regulation NMS (``Joint-SRO Plan'' or ``Plan'').\3\ The amendment 
proposes to add EDGA and EDGX as participants to the Joint-SRO Plan. 
The Commission is publishing this notice and order to solicit comments 
from interested persons on the proposed Joint-SRO Plan

[[Page 18247]]

amendment, and to grant temporary effectiveness to the proposed 
amendment through August 9, 2010.
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    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ 17 CFR 242.605. On April 12, 2001, the Commission approved a 
national market system plan for the purpose of establishing 
procedures for market centers to follow in making their monthly 
reports available to the public under Rule 11Ac1-5 under the Act (n/
k/a Rule 605 of Regulation NMS). See Securities Exchange Act Release 
No. 44177 (April 12, 2001), 66 FR 19814 (April 17, 2001).
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I. Description and Purpose of the Amendment

    The current participants to the Joint-SRO Plan are the American 
Stock Exchange LLC (n/k/a NYSE Amex, Inc.), BATS Exchange, Inc., Boston 
Stock Exchange, Inc. (n/k/a NASDAQ OMX BX, Inc.), Chicago Board Options 
Exchange, Incorporated, Chicago Stock Exchange, Inc., Cincinnati Stock 
Exchange, Inc. (n/k/a National Stock Exchange\SM\), International 
Securities Exchange, LLC, The NASDAQ Stock Market LLC, National 
Association of Securities Dealers, Inc. (n/k/a Financial Industry 
Regulatory Authority, Inc.), New York Stock Exchange, Inc. (n/k/a New 
York Stock Exchange LLC), Pacific Exchange, Inc. (n/k/a NYSE Arca, 
Inc.), and Philadelphia Stock Exchange, Inc. (n/k/a NASDAQ OMX PHLX, 
Inc.). The proposed amendment would add EDGA and EDGX as participants 
to the Joint-SRO Plan.
    Each of EDGA and EDGX has submitted a signed copy of the Joint-SRO 
Plan to the Commission in accordance with the procedures set forth in 
the Plan regarding new participants. Section III(b) of the Joint-SRO 
Plan provides that a national securities exchange or national 
securities association may become a party to the Plan by: (i) executing 
a copy of the Plan, as then in effect (with the only changes being the 
addition of the new participant's name in Section 11(a) of the Plan and 
the new participant's single-digit code in Section VI(a)(1) of the 
Plan) and (ii) submitting such executed plan to the Commission for 
approval.

II. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed 
Joint-SRO Plan amendment 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 e-mail to rule-comments@sec.gov. Please include 
File Number 4-518 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 4-518. This file number 
should be included on the subject line if e-mail 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 plan amendment that are filed 
with the Commission, and all written communications relating to the 
proposed plan amendment 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 
a.m. and 3 p.m. Copies of such submission 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 4-518 and should be submitted 
on or before May 10, 2010.

III. Commission's Findings and Order Granting Accelerated Approval of 
Proposed Plan Amendment

    The Commission finds that the proposed Joint-SRO Plan amendment is 
consistent with the requirements of the Act and the rules and 
regulations thereunder.\4\ Specifically, the Commission believes that 
the proposed amendment, which permits EDGA and EDGX to become 
participants to the Joint-SRO Plan, is consistent with the requirements 
of Section 11A of the Act, and Rule 608 of Regulation NMS. The Plan 
establishes appropriate procedures for market centers to follow in 
making their monthly reports required pursuant to Rule 605 of 
Regulation NMS, available to the public in a uniform, readily 
accessible, and usable electronic format. The proposed amendment to 
include EDGA and EDGX as participants in the Joint-SRO Plan will 
contribute to the maintenance of fair and orderly markets and remove 
impediments to and perfect the mechanisms of a national market system 
by facilitating the uniform public disclosure of order execution 
information by all market centers.
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    \4\ In approving this proposed Joint-SRO Plan amendment, the 
Commission has considered the proposal's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
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    The Commission finds good cause to grant temporary effectiveness to 
the proposed Joint-SRO Plan amendment, for 120 days, until August 9, 
2010. The Commission believes that it is necessary and appropriate in 
the public interest, for the maintenance of fair and orderly markets, 
to remove impediments to, and perfect mechanisms of, a national market 
system to allow EDGA and EDGX to become participants in the Joint-SRO 
Plan. On March 12, 2010, the Commission granted the application of EDGA 
and EDGX for registration as national securities exchanges.\5\ One of 
the conditions to operations of EDGA and EDGX is participation in 
national market system plans, including the Joint-SRO Plan.\6\ As a 
Plan participant, each of EDGA and EDGX would have timely information 
on the Plan procedures as they are formulated and modified by the 
participants. The Commission finds, therefore, that granting temporary 
effectiveness of the proposed Joint-SRO Plan amendment is appropriate 
and consistent with Section 11A of the Act.\7\
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    \5\ See Securities Exchange Act Release No. 61698 (March 12, 
2010), 75 FR 13151 (March 22, 2010).
    \6\ Id.
    \7\ 15 U.S.C. 78k-1.
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IV. Conclusion

    It is therefore ordered, pursuant to Section 11A of the Act \8\ and 
Rule 608 of Regulation NMS,\9\ that the proposed Joint-SRO Plan 
amendment is approved for 120 days, through August 9, 2010.
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    \8\ 15 U.S.C. 78k-1.
    \9\ 17 CFR 242.608.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(29).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-8152 Filed 4-8-10; 8:45 am]
BILLING CODE 8011-01-P