Notices. SECURITIES AND EXCHANGE COMMISSION
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/register/2011/01/25/2011-1431A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 7905-01-P 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. 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.
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 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 5 15 U.S.C. 78k-1. 6 17 CFR 242.608. 7 15 U.S.C. 78k-1. 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. 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). Elizabeth M. Murphy, Secretary. [FR Doc. 2011-1431 Filed 1-24-11; 8:45 am]
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SECURITIES AND EXCHANGE COMMISSION
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