Document ID: SEC-2013-1883-0001
Agency: sec
Document Type: Notice
Title: Sel-Regulatory Organizations; Proposed Rule Changes: Topaz Exchange, LLC
Posted Date: 2013-11-01T04:00Z

[Federal Register Volume 78, Number 212 (Friday, November 1, 2013)]
[Notices]
[Pages 65740-65741]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-26073]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70763; File No. 4-546]

Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Options Order Protection and Locked/Crossed Market 
Plan To Add Topaz Exchange, LLC as a Participant

October 28, 2013.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given 
that on August 7, 2013, Topaz Exchange, LLC (``Topaz'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission'') an 
amendment to the Options Order Protection and Locked/Crossed Market 
Plan (``Plan'').\3\ The amendment added Topaz as a Participant \4\ to 
the Plan. The Commission is publishing this notice to solicit comments 
on the amendment from interested persons.
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    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ On July 30, 2009, the Commission approved a national market 
system plan relating to Options Order Protection and Locked/Crossed 
Markets proposed by Chicago Board Options Exchange, Incorporated 
(``CBOE''), International Securities Exchange, LLC (``ISE''), The 
NASDAQ Stock Market LLC (``Nasdaq''), NASDAQ OMX BX, Inc. (``BOX''), 
NASDAQ OMX PHLX, Inc. (``Phlx''), NYSE Amex, LLC (``NYSE Amex''), 
and NYSE Arca, Inc. (``NYSE Arca''). See Securities Exchange Act 
Release No. 60405 (July 30, 2009), 74 FR 39362 (August 6, 2009). See 
also Securities Exchange Act Release Nos. 61546 (February 19, 2010), 
75 FR 8762 (February 25, 2010) (adding BATS Exchange, Inc. 
(``BATS'') as a Participant); 63119 (October 15, 2010), 75 FR 65536 
(October 25, 2010) (adding C2 Options Exchange, Incorporated 
(``C2'') as a Participant); 66969 (May 11, 2012), 77 FR 29396 (May 
17, 2012) (adding BOX Options Exchange LLC (``BOX Options'') as a 
Participant). Miami International Securities Exchange, LLC 
(``MIAX'') joined the Plan on December 5, 2012.
    \4\ The term ``Participant'' is defined as an Eligible Exchange 
whose participation in the Plan has become effective pursuant to 
Section 3(c) of the Plan.
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I. Description and Purpose of the Amendment

    The current Participants in the Linkage Plan are BOX Options, C2, 
CBOE, BATS, ISE, Nasdaq, BOX, Phlx, NYSE Amex,\5\ NYSE Arca, and MIAX. 
The amendment to the Plan added Topaz as a Participant in the Plan. 
Topaz has submitted a signed copy of the Plan to the Commission in 
accordance with the procedures set forth in the Plan regarding new 
Participants. Section 3(c) of the Plan provides for the entry of new 
Participants to the Plan. Specifically an Eligible Exchange \6\ may 
become a Participant in the Plan by: (i) Executing a copy of the Plan, 
as then in effect; (ii) providing each current Participant with a copy 
of such executed Plan; (iii) effecting an amendment to the Plan, as 
specified in Sections 3(c) and 4(b) of the Plan.
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    \5\ NYSE Amex was recently renamed NYSE MKT LLC. See Securities 
Exchange Act Release No. 67037 (May 21, 2012), 77 FR 31415 (May 25, 
2012) (SR-NYSEAmex-2012-32).
    \6\ Section 2(6) of the Plan defines an ``Eligible Exchange'' as 
a national securities exchange registered with the Commission 
pursuant to Section 6(a) of the Act, 15 U.S.C. 78f(a), that: (a) Is 
a ``Participant Exchange'' in the Options Clearing Corporation 
(``OCC'') (as defined in OCC By-laws, Section VII); (b) is a party 
to the Options Price Reporting Authority (``OPRA'') Plan (as defined 
in the OPRA Plan, Section 1); and (c) if the national securities 
exchange chooses not to become party to this Plan, is a participant 
in another plan approved by the Commission providing for comparable 
Trade-Through and Locked and Crossed Market protection. Topaz has 
represented that it has met the requirements for being considered an 
Eligible Exchange. See letter from Michael Simon, Secretary, Topaz 
Exchange, LLC to Elizabeth Murphy, Secretary, Commission, dated 
August 1, 2013.
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    Section 4(b) of the Plan puts forth the process by which an 
Eligible Exchange may effect an amendment to the Plan. Specifically, an 
Eligible Exchange must: (a) Execute a copy of the Plan with the only 
change being the addition of the new participant's name in Section 3(a) 
of the Plan; and (b) submit the executed Plan to the Commission. The 
Plan then provides that such an amendment will be effective when the 
amendment is approved by the Commission or otherwise becomes effective 
pursuant to Section 11A of the Act and Rule 608 thereunder.

II. Effectiveness of the Linkage Plan Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) of the Act \7\ because it involves solely technical or 
ministerial matters. At any time within sixty days of the filing of 
this amendment, the Commission may summarily abrogate the amendment and 
require that it be refiled pursuant to paragraph (b)(1) of Rule 608,\8\ 
if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors or 
the maintenance of fair and orderly markets, to remove impediments to, 
and perfect the mechanisms of, a national market system or otherwise in 
furtherance of the purposes of the Act.
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    \7\ 17 CFR 242.608(b)(3)(iii).
    \8\ 17 CFR 242.608(b)(1).
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III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing,

[[Page 65741]]

including whether the 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 email to rule-comments@sec.gov. Please include 
File Number 4-546 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number 4-546. 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 amendment that are filed with the 
Commission, and all written communications relating to the 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 10:00 a.m. and 
3:00 p.m. Copies of such filing also will be available for inspection 
and copying at the principal office of Topaz. 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 4-546 and should be submitted on or before 
November 22, 2013.

    By the Commission.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-26073 Filed 10-31-13; 8:45 am]
BILLING CODE 8011-01-P