Document ID: SEC-2015-0158-0001
Agency: sec
Document Type: Notice
Title: Applications for Limited Volume Exemptions: Automated Matching Systems Exchange, LLC
Posted Date: 2015-01-27T05:00Z

[Federal Register Volume 80, Number 17 (Tuesday, January 27, 2015)]
[Notices]
[Page 4321]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01426]

[[Page 4321]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74116; File No. 10-214]

Automated Matching Systems Exchange, LLC; Notice of Designation 
of a Longer Period for Commission Action on Proceedings To Determine 
Whether To Grant or Deny a Limited Volume Exemption From Registration 
as a National Securities Exchange Under Section 5 of the Securities 
Exchange Act of 1934

January 22, 2015.
    On July 7, 2014, Automated Matching Systems Exchange, LLC 
(``AMSE'') submitted to the Securities and Exchange Commission 
(``Commission'') an application seeking a limited volume exemption 
under Section 5 of the Securities Exchange Act (``Exchange Act'') from 
registration as a national securities exchange under Section 6 of the 
Exchange Act.\1\ Notice of AMSE's exemption application was published 
for comment in the Federal Register on July 29, 2014.\2\ On October 23, 
2014, the Commission issued an order instituting proceedings to 
determine whether to grant or deny AMSE's exemption application.\3\ On 
November 10, 2014, AMSE submitted Amendment No. 1 to its exemption 
application. Notice of Amendment No. 1 to AMSE's exemption application 
was published for comment in the Federal Register on December 30, 
2014.\4\
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    \1\ The Commission notes that AMSE's application only seeks a 
limited volume exemption under Section 5 of the Exchange Act from 
registration as a national securities exchange under Section 6 of 
the Exchange Act. AMSE's application does not seek to register as a 
national securities exchange.
    \2\ See Securities Exchange Act Release No. 72661 (July 23, 
2014), 79 FR 44070 (``Notice'').
    \3\ See Securities Exchange Act Release No. 73419 (October 23, 
2014), 79 FR 64421 (October 29, 2014) (``Order Instituting 
Proceedings'').
    \4\ See Securities Exchange Act Release No. 73991 (December 22, 
2014), 79 FR 78507 (action by delegated authority) (``Amendment 
Notice'').
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    Section 19(a) of the Exchange Act provides that the Commission 
shall, upon the filing of an application for registration as a national 
securities exchange pursuant to Section 6 of the Exchange Act,\5\ 
publish notice of such filing and afford interested persons an 
opportunity to submit written data, views, and arguments concerning 
such application, and within 90 days of the date of publication of such 
notice (or within such longer period as to which the applicant 
consents), by order grant such registration or institute proceedings to 
determine whether such registration should be denied. Such proceedings 
must be concluded within 180 days of the date of a publication of 
notice of the filing of the application for registration.\6\ However, 
the Commission may extend the time for conclusion of such proceedings 
for up to 90 days if it finds good cause for such extension and 
publishes its reasons for so finding or for such longer period as to 
which the applicant consents. AMSE's exemption application was 
published for notice and comment in the Federal Register on July 29, 
2014.\7\ The 180th day after publication of the notice of AMSE's 
exemption application in the Federal Register is January 25, 2014, and 
the 270th day after publication of the notice of AMSE's exemption 
application in the Federal Register is April 25, 2015.
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    \5\ AMSE's exemption application has been filed pursuant to 
Section 5 of the Exchange Act. The Commission is affording AMSE's 
exemption application a process similar to that for exchange 
registration applications under Section 19(a) of the Exchange Act.
    \6\ See id. and Section 19(a) of the Exchange Act.
    \7\ Id.
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    The Commission finds that good cause exists to extend the time for 
conclusion of the proceedings to determine whether to grant or deny 
AMSE's exemption application in order for the Commission to have 
sufficient time to consider AMSE's amended exemption application, 
including any comment letters received on AMSE's amended exemption 
application.\8\ Accordingly, pursuant to Section 19(a)(1)(B) of the 
Exchange Act, the Commission extends the time for conclusion of the 
proceedings to determine whether to grant or deny AMSE's exemption 
application to April 24, 2015.
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    \8\ See supra note 4.

    By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2015-01426 Filed 1-26-15; 8:45 am]
BILLING CODE 8011-01-P