Document ID: SEC-2010-1298-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: BATS Exchange, Inc., NASDAQ OMX BX, Inc.; Chicago Board Options Exchange, Inc., et al.
Posted Date: 2010-08-25T04:00Z

[Federal Register: August 25, 2010 (Volume 75, Number 164)]
[Notices]               
[Page 52383]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25au10-119]                         

[[Page 52383]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62730; File Nos. SR-BATS-2010-016; SR-BX-2010-040; SR-
CBOE-2010-056; SR-CHX-2010-13; SR-EDGA-2010-03; SR-EDGX-2010-03; SR-
ISE-2010-62; SR-NASDAQ-2010-076; SR-NSX-2010-07; SR-NYSE-2010-47; SR-
NYSEAmex-2010-60; SR-NYSEArca- 2010-58]

 
Self-Regulatory Organizations; BATS Exchange, Inc.; NASDAQ OMX 
BX, Inc.; Chicago Board Options Exchange, Incorporated; Chicago Stock 
Exchange, Inc.; EDGA Exchange, Inc.; EDGX Exchange, Inc.; International 
Securities Exchange LLC; The NASDAQ Stock Market LLC; National Stock 
Exchange, Inc.; New York Stock Exchange LLC; NYSE Amex LLC; NYSE Arca, 
Inc.; Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Changes Relating to Clearly Erroneous Transactions

August 16, 2010.
    On June 17, 2010, each of BATS Exchange, Inc. (``BATS''), NASDAQ 
OMX BX, Inc. (``BX''), Chicago Board Options Exchange, Incorporated 
(``CBOE''), Chicago Stock Exchange, Inc. (``CHX''), EDGA Exchange, Inc. 
(``EDGA''), EDGX Exchange, Inc. (``EDGX''), International Securities 
Exchange LLC (``ISE''), The NASDAQ Stock Market LLC (``Nasdaq''), 
National Stock Exchange, Inc. (``NSX''), New York Stock Exchange LLC 
(``NYSE''), NYSE Amex LLC (``NYSE Amex''), and NYSE Arca, Inc. (``NYSE 
Arca'') (collectively, the ``Exchanges'') filed with the Securities and 
Exchange Commission (``Commission''), pursuant to Section 19(b)(1) \1\ 
of the Securities Exchange Act of 1934 (``Act''),\2\ and Rule 19b-4 
thereunder,\3\ proposed rule changes to amend certain of their 
respective rules to set forth clearer standards and curtail their 
discretion with respect to breaking erroneous trades.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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    Section 19(b)(2) of the Act \4\ provides that within thirty-five 
days of the publication of notice of the filing of a proposed rule 
change, or within such longer period as the Commission may designate up 
to ninety days of such date if it finds such longer period to be 
appropriate and publishes its reasons for so finding, the Commission 
shall either approve the proposed rule change or institute proceedings 
to determine whether the proposed rule change should be disapproved. 
The 35th day for the filings submitted by BATS, BX, CBOE, CHX, EDGA, 
EDGX, ISE, Nasdaq, NSX, NYSE, and NYSE Amex was August 2, 2010.\5\ The 
35th day for the filing submitted by NYSE Arca was August 3, 2010.\6\ 
The Commission had received an extension of time from the Exchanges 
until August 16, 2010.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release Nos. 62330 (June 21, 
2010), 75 FR 36725 (June 28, 2010); 62331 (June 21, 2010), 75 FR 
36746 (June 28, 2010); 62332 (June 21, 2010), 75 FR 36749 (June 28, 
2010); 62333 (June 21, 2010), 75 FR 36759 (June 28, 2010); 62334 
(June 21, 2010), 75 FR 36732 (June 28, 2010); 62336 (June 21, 2010), 
75 FR 36743 (June 28, 2010); 62337 (June 21, 2010), 75 FR 36739 
(June 28, 2010); 62338 (June 21, 2010), 75 FR 36762 (June 28, 2010); 
62339 (June 21, 2010), 75 FR 36765 (June 28, 2010); 62340 (June 21, 
2010), 75 FR 36768 (June 28, 2010); and 62342 (June 21, 2010), 75 FR 
36752 (June 28, 2010).
    \6\ See Securities Exchange Act Release No. 62335 (June 21, 
2010), 75 FR 37494 (June 29, 2010).
    \7\ The Exchanges submitted through the Commission's Electronic 
Form 19b-4 Filing System extensions of the time period for 
Commission action through August 16, 2010.
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule changes so that it has 
sufficient time to consider these proposed rule changes, relating to 
the amendment of clearly erroneous execution rules to provide greater 
transparency and certainty to the process of breaking trades, and the 
comment letters that have been submitted in connection with these 
filings.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\8\ designates August 30, 2010, as the date by which the Commission 
should either approve or institute proceedings to determine whether to 
disapprove the proposed rule changes.
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    \8\ 15 U.S.C. 78s(b)(2).

    By the Commission.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-21095 Filed 8-24-10; 8:45 am]
BILLING CODE 8010-01-P