[Federal Register Volume 78, Number 75 (Thursday, April 18, 2013)]
[Notices]
[Pages 23320-23321]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-09123]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69369; File No. SR-BYX-2013-008]


Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change Amending the Attestation Requirement of Rule 11.24 Allowing a 
Retail Member Organization To Attest That ``Substantially All'' Orders 
Submitted to The Retail Price Improvement Program Will Qualify as 
``Retail Orders''

 April 12, 2013.
    On February 12, 2013, BATS Y-Exchange, Inc. (the ``Exchange'' or 
``BYX'') filed with the Securities and Exchange Commission 
(``Commission'') pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to allow Retail Member Organizations (``RMOs'') to 
attest that ``substantially all,'' rather than all, orders submitted to 
the Retail Price Improvement Program qualify as ``Retail Orders.'' The 
proposed rule change was published for comment in the Federal Register 
on March 1, 2013.\3\ To date, the Commission has received one comment 
on the proposal.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 68975 (Feb. 25, 
2013), 78 FR 13915.
    \4\ See Letter to the Commission from Theodore R. Lazo, Managing 
Director and Associate General Counsel, Securities Industry and 
Financial Markets Association (SIFMA), dated March 11, 2013.
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is April 15, 2013.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period to take action on the proposed 
rule changes so that it has sufficient time to consider the Exchange's 
proposal, which would lessen the attestation requirements of

[[Page 23321]]

RMOs that submit ``Retail Orders'' eligible to receive potential price 
improvement through the Retail Price Improvement Program, and to 
consider the comment letter that has been submitted in connection with 
the proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates May 30, 2013, as the date by which the Commission 
should either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File No. SR-
BYX-2013-008).
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-09123 Filed 4-17-13; 8:45 am]
BILLING CODE 8011-01-P