Document ID: SEC-2011-0110-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Approval of Addition of BATS-Y Exchange, Inc., as a Participant to National Market System Plan
Posted Date: 2011-01-25T05:00Z

[Federal Register Volume 76, Number 16 (Tuesday, January 25, 2011)]
[Notices]
[Pages 4399-4400]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-1431]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63719, File No. 4-518]

Joint Industry Plan; Order Approving Amendment To Add the BATS Y-
Exchange, Inc. as Participant to National Market System Plan 
Establishing Procedures Under Rule 605 of Regulation NMS

January 14, 2011.

I. Introduction

    On September 9, 2010, the BATS Y-Exchange, Inc. (``BYX'' or 
``Exchange'') submitted to the Securities and Exchange Commission 
(``SEC'' or ``Commission'') in accordance with Section 11A of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 of 
Regulation NMS,\2\ a proposed amendment to the national market system 
plan establishing procedures under Rule 605 of Regulation NMS (``Joint-
SRO Plan'' or ``Plan'').\3\ Under the proposed amendment, BYX would be 
added as a participant to the Joint-SRO Plan. Notice of filing and an 
order granting temporary effectiveness of the proposal through January 
18, 2011 were published in the Federal Register on September 17, 
2010.\4\ The Commission did not receive any comments on the proposed 
amendment. This order approves the amendment on a permanent basis.
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    \1\ 15 U.S.C. 78k-1.
    \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).
    \4\ See Securities Exchange Act Release No. 62896 (September 13, 
2010), 75 FR 57088.
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II. Discussion

    The Joint-SRO Plan establishes 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 current participants to 
the Joint-SRO Plan are the American Stock Exchange LLC, BATS Exchange, 
Inc., Boston Stock Exchange, Inc., Chicago Board Options Exchange, 
Incorporated, Chicago Stock Exchange, Inc., Cincinnati Stock Exchange, 
Inc. (n/k/a National Stock Exchange\SM\), EDGA Exchange, Inc., EDGX 
Exchange, Inc., International Securities Exchange LLC, The NASDAQ Stock 
Market LLC, National Association of Securities Dealers, 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. The proposed amendment would add BYX as a participant to 
the Joint-SRO Plan.
    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 II(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. BYX 
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.
    The Commission finds that the amendment to the Joint-SRO Plan is 
consistent with the requirements of the Act and the rules and 
regulations thereunder. Specifically, the

[[Page 4400]]

Commission finds that the proposed amendment is consistent with the 
requirements of Section 11A of the Act,\5\ and Rule 608 of Regulation 
NMS.\6\ The Plan established 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 amendment to include BYX 
as a participant in the Joint-SRO Plan should 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. 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 BYX to become a participant in the 
Joint-SRO Plan. The Commission finds, therefore, that approving the 
amendment to the Joint-SRO Plan is appropriate and consistent with 
Section 11A of the Act.\7\
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    \5\ 15 U.S.C. 78k-1.
    \6\ 17 CFR 242.608.
    \7\ 15 U.S.C. 78k-1.
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III. Conclusion

    It is therefore ordered, pursuant to Section 11A(a)(3)(B) of the 
Act \8\ and Rule 608 of Regulation NMS,\9\ that the amendment to the 
Joint-SRO Plan to add BYX as a participant is approved and BYX is 
authorized to act jointly with the other participants to the Joint-SRO 
Plan in planning, developing, operating, or regulating the Plan as a 
means of facilitating a national market system.
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    \8\ 15 U.S.C. 78k-1(a)(3)(B).
    \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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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-1431 Filed 1-24-11; 8:45 am]
BILLING CODE 8011-01-P