Document ID: SEC-2009-1329-0001
Agency: sec
Document Type: Notice
Title: EDGX Exchange, Inc., and EDGA Exchange, Inc.; Notice of Filing of Applications, as Amended, for Registration as National Securities Exchanges Under Section 6 of the Securities Exchange Act of 1934
Posted Date: 2009-09-17T04:00Z

[Federal Register: September 17, 2009 (Volume 74, Number 179)]
[Notices]
[Page 47827-47828]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr17se09-76]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60651; File Nos. 10-193 and 10-194]

EDGX Exchange, Inc., and EDGA Exchange, Inc.; Notice of Filing of
Applications, as Amended, for Registration as National Securities
Exchanges Under Section 6 of the Securities Exchange Act of 1934

September 11, 2009.
    On May 7, 2009, EDGX Exchange, Inc. (``EDGX''), and EDGA Exchange,
Inc. (``EDGA,'' and, together with EDGX, the

[[Page 47828]]

``Exchanges'') submitted to the Securities and Exchange Commission
(``Commission'') Form 1 applications under the Securities Exchange Act
of 1934 (``Exchange Act''), seeking registration as national securities
exchanges under Section 6 of the Exchange Act.\1\ On July 30, 2009, the
Exchanges each submitted Amendment No. 1 to their Form 1 applications.
The Commission is publishing this notice to solicit comments on the
Exchanges' Form 1 applications, as amended. The Commission will take
these comments into consideration in making its determination about
whether to grant the Exchanges' requests to be registered as national
securities exchanges. The Commission will grant the registrations if it
finds that the requirements of the Exchange Act and the rules and
regulations thereunder with respect to the Exchanges are satisfied.\2\
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    \1\ On September 11, 2009, the Commission issued an order
granting EDGX and EDGA exemptive relief, subject to certain
conditions, in connection with the filing of their Form 1
applications. See Securities Exchange Act Release No. 60650.
    \2\ 15 U.S.C. 78s(a).
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    The Exchanges' Form 1 applications, as amended, provide detailed
information on how they propose to satisfy the requirements of the
Exchange Act. In general, the Exchanges, which are wholly-owned
subsidiaries of Direct Edge Holdings LLC, will each operate separate
fully automated electronic books for orders to buy or sell securities
with continuous, automated matching functions.\3\ Liquidity on the
Exchanges will be derived from orders to buy and orders to sell
submitted to the Exchanges electronically by their respective members
from remote locations. Neither EDGX nor EDGA will have a trading floor,
nor will they have exchange specialists or market makers. The
Exchanges' Form 1 applications, as amended, are available at the
Commission's Public Reference Room and http://www.sec.gov.
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    \3\ EDGX and EDGA represented that the Step-Up functionality,
set forth in the Form 1 applications, is the same functionality as
Enhanced Liquidity Provider (``ELP'') functionality offered by
Direct Edge ECN LLC (``DECN''). EDGX and EDGA also agreed to amend
the Form 1 applications to comply with any Commission rulemaking in
this area. See Letter from William O'Brien, Chief Executive Officer,
Direct Edge Holdings LLC, DECN, EDGX, and EDGA, to James
Brigagliano, Co-Acting Director, Division of Trading and Markets,
Commission, dated August 10, 2009.
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    Interested persons are invited to submit written data, views, and
arguments concerning the Exchanges' Form 1 applications, as amended,
including whether the Exchanges' applications, as amended, are
consistent with the Exchange 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/other.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include
File Number(s) 10-193 (for EDGX) and 10-194 (for EDGA) on the subject
line.

Paper Comments

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

All submissions should refer to File Number(s) 10-193 (for EDGX) and
10-194 (for EDGA). These file number(s) 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/other.shtml). Copies of the submission, all
subsequent amendments, all written statements with respect to the
Exchanges' Form 1 applications filed with the Commission, and all
written communications relating to the application 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 inspection and copying 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. 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(s) 10-193 (for EDGX) and 10-194
(for EDGA) and should be submitted on or before November 2, 2009.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-22347 Filed 9-16-09; 8:45 am]

BILLING CODE 8010-01-P