[Federal Register Volume 75, Number 171 (Friday, September 3, 2010)]
[Notices]
[Page 54211]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22024]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62797; 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 30, 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\ The Commission extended this time period
until August 30, 2010.\8\ The Commission is again extending this time
period.
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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.
\8\ See Securities Exchange Act Release No. 62730 (August 16,
2010), 75 FR 52383 (August 25, 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,\9\ designates September 10, 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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\9\ 15 U.S.C. 78s(b)(2).
By the Commission.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-22024 Filed 9-2-10; 8:45 am]
BILLING CODE 8010-01-P