[Federal Register Volume 75, Number 175 (Friday, September 10, 2010)]
[Notices]
[Page 55381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22552]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62823, File No. 4-51]
Joint Industry Plan; Order Approving Amendment To Add EDGA
Exchange, Inc. and EDGX Exchange, Inc. as Participants to National
Market System Plan Establishing Procedures Under Rule 605 of Regulation
NMS
September 1, 2010.
I. Introduction
On March 30, 2010, EDGA Exchange, Inc. (``EDGA'') and EDGX
Exchange, Inc. (``EDGX'') 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, EGDA and EDGX
would be added as participants to the Joint-SRO Plan. Notice of filing
and an order granting temporary effectiveness of the proposal were
published in the Federal Register on April 9, 2010.\4\ The Commission
did not receive any comments on the proposed amendment. This order
approves the amendment on a permanent basis.
---------------------------------------------------------------------------
\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. 61824 (April 1,
2010), 75 FR 18246 (April 9, 2010).
---------------------------------------------------------------------------
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 (n/k/a NYSE
Amex, Inc.), BATS Exchange, Inc., Boston Stock Exchange, Inc. (n/k/a
NASDAQ OMX BX, Inc.), Chicago Board Options Exchange, Incorporated,
Chicago Stock Exchange, Inc., Cincinnati Stock Exchange, Inc. (n/k/a
National Stock Exchange\SM\), International Securities Exchange, LLC,
The NASDAQ Stock Market LLC, National Association of Securities
Dealers, Inc. (n/k/a Financial Industry Regulatory Authority, 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. (n/k/a NASDAQ OMX PHLX, Inc.). The proposed amendment
would add EDGA and EDGX as participants 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 11(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. Each
of EDGA and EDGX has 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 Commission finds that the
proposed amendment, which permits EDGA and EDGX to become participants
to the Joint-SRO Plan, 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 EDGA
and EDGX as participants 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 EDGA and EDGX to become participants in
the Joint-SRO Plan. The Commission finds, therefore, that approving
amendment to the Joint-SRO Plan is appropriate and consistent with
Section 11A of the Act.\7\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78k-1.
\6\ 17 CFR 242.608.
\7\ 15 U.S.C. 78k-1.
---------------------------------------------------------------------------
IV. 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 EDGA and EDGX as participants to the Joint-SRO
Plan is approved and EDGA and EDGX are authorized to each 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.
---------------------------------------------------------------------------
\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\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(29).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-22552 Filed 9-9-10; 8:45 am]
BILLING CODE 8010-01-P