[Federal Register Volume 74, Number 179 (Thursday, September 17, 2009)]
[Notices]
[Pages 47827-47828]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-22347]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60651; File Nos. 10-193 and 10-194]


EDGX Exchange, Inc., and EDGA Exchange, Inc.; Notice of Filing of 
Applications, as Amended, for Registration as National Securities 
Exchanges Under Section 6 of the Securities Exchange Act of 1934

September 11, 2009.
    On May 7, 2009, EDGX Exchange, Inc. (``EDGX''), and EDGA Exchange, 
Inc. (``EDGA,'' and, together with EDGX, the

[[Page 47828]]

``Exchanges'') submitted to the Securities and Exchange Commission 
(``Commission'') Form 1 applications under the Securities Exchange Act 
of 1934 (``Exchange Act''), seeking registration as national securities 
exchanges under Section 6 of the Exchange Act.\1\ On July 30, 2009, the 
Exchanges each submitted Amendment No. 1 to their Form 1 applications. 
The Commission is publishing this notice to solicit comments on the 
Exchanges' Form 1 applications, as amended. The Commission will take 
these comments into consideration in making its determination about 
whether to grant the Exchanges' requests to be registered as national 
securities exchanges. The Commission will grant the registrations if it 
finds that the requirements of the Exchange Act and the rules and 
regulations thereunder with respect to the Exchanges are satisfied.\2\
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    \1\ On September 11, 2009, the Commission issued an order 
granting EDGX and EDGA exemptive relief, subject to certain 
conditions, in connection with the filing of their Form 1 
applications. See Securities Exchange Act Release No. 60650.
    \2\ 15 U.S.C. 78s(a).
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    The Exchanges' Form 1 applications, as amended, provide detailed 
information on how they propose to satisfy the requirements of the 
Exchange Act. In general, the Exchanges, which are wholly-owned 
subsidiaries of Direct Edge Holdings LLC, will each operate separate 
fully automated electronic books for orders to buy or sell securities 
with continuous, automated matching functions.\3\ Liquidity on the 
Exchanges will be derived from orders to buy and orders to sell 
submitted to the Exchanges electronically by their respective members 
from remote locations. Neither EDGX nor EDGA will have a trading floor, 
nor will they have exchange specialists or market makers. The 
Exchanges' Form 1 applications, as amended, are available at the 
Commission's Public Reference Room and http://www.sec.gov.
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    \3\ EDGX and EDGA represented that the Step-Up functionality, 
set forth in the Form 1 applications, is the same functionality as 
Enhanced Liquidity Provider (``ELP'') functionality offered by 
Direct Edge ECN LLC (``DECN''). EDGX and EDGA also agreed to amend 
the Form 1 applications to comply with any Commission rulemaking in 
this area. See Letter from William O'Brien, Chief Executive Officer, 
Direct Edge Holdings LLC, DECN, EDGX, and EDGA, to James 
Brigagliano, Co-Acting Director, Division of Trading and Markets, 
Commission, dated August 10, 2009.
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    Interested persons are invited to submit written data, views, and 
arguments concerning the Exchanges' Form 1 applications, as amended, 
including whether the Exchanges' applications, as amended, are 
consistent with 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 e-mail to [email protected]. Please include 
File Number(s) 10-193 (for EDGX) and 10-194 (for EDGA) on the subject 
line.

Paper Comments

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

All submissions should refer to File Number(s) 10-193 (for EDGX) and 
10-194 (for EDGA). These file number(s) should be included on the 
subject line if e-mail 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 the 
Exchanges' Form 1 applications 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 inspection and copying in the Commission's Public 
Reference Room, 100 F Street, NE., Washington, DC 20549, on official 
business days between the hours of 10 a.m. and 3 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(s) 10-193 (for EDGX) and 10-194 
(for EDGA) and should be submitted on or before November 2, 2009.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-22347 Filed 9-16-09; 8:45 am]
BILLING CODE 8010-01-P