RegAlert2016-11-30
Added · Updated
Exemption Under Rule 608(e) of Regulation NMS from Certain Provisions of the Plan to Implement a Tick Size Pilot Program
The Commission grants an exemption to FINRA and various national securities exchanges from the requirement to publish Tick Size Pilot Program data on a monthly basis, allowing publication within 120 calendar days from month end instead. This exemption applies to data collected under Appendices B and C of the Plan, including Market Maker profitability statistics, provided that DEA Participants submit their data to FINRA for centralized aggregation and publication. The relief is conditioned on the Participants submitting proposed rule changes to reflect these new publication timelines and expires immediately if any material changes occur to the facts or representations in the original request.
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~,o Excy~, ~~g c$ UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549 ~~ ~o MC~~~ .
DIVISION OF
TRADING AND MARKETS
November 30, 2016
Ms. Marcia E. Asquith
Senior Vice President and Corporate Secretary Financial Industry Regulatory Authority 1735 K St NW Washington, DC 20006 Re: Exemption Under 608(e) of Regulation NMS under the Securities Exchange Act of 1934 from Certain Provisions of the "Plan Implement a Tick Size Pilot Program" Dear Ms. Asquith, In your letter dated November 14, 2016,1 the Financial Industry Regulatory Authority, Inc. ("FINRA"), on behalf of itself and BATS BZX Exchange, Inc., BATS BYX Exchange, Inc., BATS EDGA Exchange, Inc., BATS EDGX Exchange, Inc., Chicago Stock Exchange, Inc., Investors Exchange LLC, NASDAQ BX, Inc., NASDAQ PHLX LLC, the Nasdaq Stock Market LLC, National Stock Exchange, Inc., New York Stock Exchange LLC, NYSE MKT LLC, and NYSE Arca, Inc. (collectively the "Participants") request that the Commission grant an exemption from the data publication requirements of the National Market System.Plan to Implement a Tick Size Pilot Program ("Plan" or "Pilot"),2 as discussed below. Specifically, the Participants request that the Commission, pursuant to Rule 608(e) of Regulation NMS under the Securities Exchange Act of 1934 ("Exchange Act"), exempt the Participants from the requirements of Rule 608(c) of Regulation NMS that they comply with, and enforce compliance by their members with certain provisions of
Section VII and Appendices B and C of the Plan that address, among other things, the
collection and publication of Pilot data.
See letter from Marcia E. Asquith, Senior Vice President and Corporate Secretary, FINRA, to Robert W. Errett, Deputy Secretary, U.S. Securities and Exchange Commission, dated November 14, 2016 ("Exemption Request"). See Securities Exchange Act Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015) ("Approval Order"). See also Securities and Exchange Act Release No. 76382 (November 6, 2015), 80 FR 70284 (November 13, 2015). Unless otherwise specified, capitalized terms are defined terms of the Plan.
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Source: Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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