Document ID: SEC-2014-1268-0001
Agency: sec
Document Type: Notice
Title: Applications for Limited Volume Exemptions: Automated Matching Systems Exchange, LLC
Posted Date: 2014-07-29T04:00Z

[Federal Register Volume 79, Number 145 (Tuesday, July 29, 2014)]
[Notices]
[Page 44070]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-17774]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72661; File No. 10-214]

Automated Matching Systems Exchange, LLC; Notice of Filing of 
Application for Limited Volume Exemption From Registration as a 
National Securities Exchange Under Section 5 of the Securities Exchange 
Act of 1934

July 23, 2014.
    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. Although Section 5 of the Exchange Act does not require 
publication of such a request for exemption, the Commission has 
determined, in its discretion, to publish this notice in order to 
solicit the views of interested persons on AMSE's exemption 
application.\1\
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    \1\ Section 5 of the Exchange Act authorizes the Commission to 
grant an exemption from registration if, ``in the opinion of the 
Commission, by reason of the limited volume of transactions effected 
on [the] exchange, it is not practicable and not necessary or 
appropriate in the public interest for the protection of investors 
to require such registration.'' 15 U.S.C. 78e.
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    AMSE proposes to conduct business in reliance upon an exemption 
from registration as a national securities exchange due to the limited 
volume of transactions proposed to be effected on AMSE. In general, 
AMSE seeks to operate as a centralized marketplace for alternative 
trading systems. AMSE proposes to operate solely on an ``off-order-
book'' trading basis. Each member of AMSE would maintain its own 
automated matching system or electronic order book and would report its 
transactions to AMSE at such intervals as required by AMSE. Trades 
would occur when an order to buy and an order to sell match on the 
member's electronic order book. Each member of AMSE would adopt rules 
governing the execution and priority of orders. AMSE does not intend to 
have a physical exchange trading floor, centralized order book, or 
specialists or market makers with affirmative and negative market 
making obligations.
    AMSE's exemption application is available at the Commission's 
Public Reference Room and www.sec.gov. Interested persons are invited 
to submit written data, views, and arguments concerning AMSE's 
exemption application, including whether AMSE's exemption application 
is consistent with the Exchange Act and whether AMSE qualifies as an 
``exchange'' under 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 email to rule-comments@sec.gov. Please include 
File Number 10-214 on the subject line.

Paper Comments

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

All submissions should refer to File Number 10-214. 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/other.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to AMSE's exemption application 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 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. 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 10-214 
and should be submitted on or before September 12, 2014.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\2\
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    \2\ 17 CFR 200.30-3(a)(71)(i).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17774 Filed 7-28-14; 8:45 am]
BILLING CODE 8011-01-P