[Federal Register Volume 78, Number 204 (Tuesday, October 22, 2013)]
[Notices]
[Pages 62903-62907]
[FR Doc No: 2013-24555]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70601; File No. SR-EDGX-2013-37]

Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Amendments to the EDGX Exchange, Inc. Fee Schedule

October 2, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on September 30, 2013, EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II
and III below, which items have been prepared by the self-regulatory
organization. The

Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend its fees and rebates applicable to
Members\3\ of the Exchange pursuant to EDGX Rule 15.1(a) and (c) (``Fee
Schedule'') to: (i) Increase the discounted fee to remove and/or route
under the Mega Tier 1 from $0.0015 per share to $0.0029 per share; (ii)
add a discounted fee of $0.00295 per share to remove liquidity to the
Mega Tier 3; (iii) add a new Market Depth Tier 2; (iv) rename the
current Market Depth Tier as ``Market Depth Tier 1''; (v) increase the
rebate provided by the Tape B Step Up Tier from $0.0025 per share to
$0.0027 per share; (vi) lower the ADV threshold required to meet the
MidPoint Match Volume Tier; and (vii) decrease the rebate for orders
yielding Flag RZ. The text of the proposed rule change is available on
the Exchange's Internet Web site at www.directedge.com, at the
Exchange's principal office, and at the Public Reference Room of the
Commission.
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    \3\ The term ``Member'' is defined as ``any registered broker or
dealer, or any person associated with a registered broker or dealer,
that has been admitted to membership in the Exchange. A Member will
have the status of a ``member'' of the Exchange as that term is
defined in Section 3(a)(3) of the Act.'' See Exchange Rule 1.5(n).
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II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
has prepared summaries, set forth in sections A, B and C below, of the
most significant aspects of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend its Fee Schedule to: (i) Increase
the discounted fee to remove and/or route under the Mega Tier 1 from
$0.0015 per share to $0.0029 per share; (ii) add a discounted fee of
$0.00295 per share to remove liquidity to the Mega Tier 3; (iii) add a
new Market Depth Tier 2; (iv) rename the current Market Depth Tier as
``Market Depth Tier 1''; and (v) increase the rebate provided by the
Tape B Step Up Tier from $0.0025 per share to $0.0027 per share; (vi)
lower the ADV threshold required to meet the MidPoint Match Volume
Tier; and (vii) decrease the rebate for orders yielding Flag RZ.
Amendment to Mega Tier 1
    The Exchange proposes to increase the fee to remove and or route
under the Mega Tier 1 from $0.0015 per share to $0.0029 per share. To
be eligible for the fees and rebates offered under the Mega Tier 1,
Members must: (1) Add or route at least 4,000,000 shares of ADV prior
to 9:30 a.m. or after 4:00 p.m.; (2) add a minimum of 35,000,000 shares
of ADV on EDGX in total, including during both market hours and pre and
post-trading hours; and (3) have an ``added liquidity'' to ``added plus
removed liquidity'' ratio of at least 85%. The Exchange notes that the
criteria necessary to achieve the tier would remain unchanged.
Amendment to Mega Tier 3
    The Exchange proposes to add a discounted fee to remove liquidity
to Mega Tier 3 of $0.00295 per share. To be eligible for the fees and
rebates offered under the Mega Tier 3, Members must: (1) Add or route
at least 1,500,000 shares of ADV prior to 9:30 a.m. or after 4:00 p.m.;
and (2) add a minimum of 0.75% of the TCV on a daily basis measured
monthly, including during both market hours and pre and post-trading
hours. Mega Tier 3 does not currently provide a discounted fee to
remove liquidity to Members that qualify for the tier. Instead, Members
are charged the standard removal rate of $0.0030 per share for
securities priced at or above $1.00 and 0.30% of the dollar value for
securities priced below $1.00. The Exchange now proposes to provide
Members that qualify for the Mega Tier 3 with a discounted removal fee
of $0.00295 per share for securities priced at or above $1.00.
Addition of the Market Depth Tier 2
    The Exchange proposes to add a new tier to Footnote 1 to its Fee
Schedule named the Market Depth Tier 2. The Market Depth Tier 2 would
provide a rebate of $0.0029 per share to Members that: (1) Add
10,000,000 shares in average daily volume (``ADV'') on a daily basis,
measured monthly; and (2) add at least 1,000,000 shares as non-
displayed orders that yield Flag HA (non-displayed orders that add
liquidity (not including MidPoint Match orders \4\)).
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    \4\ See Exchange Rule 11.5(c)(7).
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Amendment to Market Depth Tier
    Due to the proposed addition of the Market Depth Tier 2, discussed
above, the Exchange proposes to rename the current Market Depth Tier as
``Market Depth Tier 1.'' The Exchange notes that the criteria necessary
to achieve the tier and the rebates offered by the tier would remain
unchanged.
Amendment to Tape B Step-Up Tier
    The Exchange proposes to increase the rebate provided under the
Tape B Step Up Tier orders yielding flags B and 4 (adds liquidity to
EDGX in Tape B securities) from $0.0025 per share to $0.0027 per share.
To be eligible for the rebate offered under the Tape B Step Up Tier,
Members must add 600,000 shares in ADV in Tape B securities more than
the Member's August 2013 ADV in Tape B securities added to EDGX. The
Exchange notes that the criteria necessary to achieve the tier would
remain unchanged.
Amendment to the MidPoint Match Volume Tier
    Footnote 3 of the Fee Schedule currently provides that Members may
qualify for the MidPoint Match Volume Tier and not be charged a fee for
orders that yield Flag MM on EDGX if they add and/or remove an ADV of
at least 3,000,000 shares on a daily basis, measured monthly, on EDGX,
yielding flags MM (adds liquidity to MPM using the Midpoint Match order
type \5\) and/or MT (removes liquidity from MPM using MPM order type).
The Exchange proposes to amend Footnote 3 of its Fee Schedule to
decrease the ADV requirement of the MidPoint Match Volume Tier from
3,000,000 shares of ADV to 2,500,000 shares of ADV. The remainder of
the criteria required to meet the tier as well as the rate offered by
the tier would remain unchanged.
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    \5\ As defined in Exchange Rule 11.5(c)(7), the Midpoint Match
(``MPM'') order type is an order with an instruction to execute it
at the midpoint of the NBBO.
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Flag RZ
    In securities priced at or above $1.00, the Exchange currently
provides a rebate of $0.0025 per share for Members' orders that yield
Flag RZ, which routes to the BATS Exchange Inc. (``BATS'') and adds
liquidity. The Exchange proposes to amend its Fee Schedule to decrease
this rebate to $0.0020 per share for Members' orders that yield Flag
RZ. The proposed change represents a pass through of the rate that
Direct Edge ECN

LLC (d/b/a DE Route) (``DE Route''), the Exchange's affiliated routing
broker-dealer, is rebated for routing orders to BATS when it does not
qualify for a volume tiered rebate. When DE Route routes to BATS, it is
rebated a standard rate of $0.0020 per share.\6\ DE Route will pass
through this rate on BATS to the Exchange and the Exchange, in turn,
will pass through this rate to its Members. The Exchange notes that the
proposed change is in response to BATS's October 2013 fee change where
BATS decreased the rebate it provides its customers, such as DE Route,
from a rebate of $0.0025 per share to a rebate of $0.0020 per share for
orders that are routed to BATS.\7\
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    \6\ The Exchange notes that to the extent DE Route does or does
not achieve any volume tiered discount on BATS, its rate for Flag RZ
will not change.
    \7\ See BATS Exchange Pricing Effective October 1, 2013, http://cdn.batstrading.com/resources/fee_schedule/2013/BATS-BZX-Exchange-Pricing-Effective-October-1-2013.pdf (offering a standard, non-
tiered rebate of $0.0020 per share).
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Implementation Date
    The Exchange proposes to implement these amendments to its Fee
Schedule on October 1, 2013.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\8\ in general, and
furthers the objectives of Section 6(b)(4),\9\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its Members and other persons using its
facilities.
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    \8\ 15 U.S.C. 78f.
    \9\ 15 U.S.C. 78f(b)(4).
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Amendment to Mega Tier 1
    The Exchange believes that the proposal to increase the discounted
fee to remove and/or route under the Mega Tier 1 from $0.0015 per share
to $0.0029 per share represents an equitable allocation of reasonable
dues, fees, and other charges among Members and other persons using its
facilities because it will enable the Exchange to retain additional
funds to offset increased administrative, regulatory, and other
infrastructure costs associated with operating an exchange. The
Exchange believes that it is reasonable to increase the discounted
removal and/or routing fees using liquidity provision patterns. A
discounted removal rate that is designed to incent fee sensitive
liquidity takers to the Exchange, provided they are able to meet
certain volume requirements. The proposed removal and/or routing rate
is also similar to that provided by the Mega Tier 2 in Footnote 1 of
the Fee Schedule.\10\ Lastly, the Exchange believes that the proposed
amendment to the Mega Tier 1 is non-discriminatory because it applies
uniformly to all Members.
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    \10\ Members that qualify for the Mega Tier 2 are charged a
discounted removal rate of $0.0029. See the Exchange's Fee Schedule,
available at http://www.directedge.com/Membership/FeeSchedule/EDGXFeeSchedule.aspx.
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Amendment to Mega Tier 3
    The Exchange believes that its proposal to add a discounted fee to
remove liquidity to Mega Tier 3 of $0.00295 per share represents an
equitable allocation of reasonable dues, fees, and other charges among
Members and other persons using its facilities because the tier would
further encourage Members to add liquidity to EDGX during pre- and
post-trading hours. Fewer Members generally trade during pre- and post-
trading hours because of the limited time parameters associated with
these trading sessions, which generally results in less liquidity. In
addition, liquidity received during pre- and post-trading hours is an
important contributor to price discovery and acts as an important
indication of price for the market as a whole considering the relative
illiquidity of the pre- and post-trading hour sessions. The Exchange
believes that offering a discounted removal fee would incentivize
Members to provide liquidity during these trading sessions.
    The Exchange also believes that discounted fee provided by the Mega
Tier 3 is reasonable and equitably allocated because the increased
liquidity that may result from Members attempting to achieve the tier
would benefit all investors by deepening EDGX's liquidity pool and
improving investor protection. Volume-based discounted fees such as the
one proposed herein are widely utilized in the cash equities markets,
and are equitable because they are open to all Members on an equal
basis and provide incentives that are reasonably related to the value
to an exchange's market quality associated with higher levels of market
activity, such as higher levels of liquidity provision and
opportunities for price improvement.
    Lastly, the Exchange believes that the proposed amendment to the
Mega Tier 3 is non-discriminatory because it applies uniformly to all
Members.
Addition of Market Depth Tier 2
    The Exchange believes that its proposal to add the Market Depth
Tier 2 to its Fee Schedule represents an equitable allocation of
reasonable dues, fees, and other charges among Members and other
persons using its facilities because the tier would encourage Members
to add liquidity to EDGX to qualify for a higher rebate. This tier
would also recognize the contribution that non-displayed liquidity
provides to the marketplace, including: (i) Adding needed depth to the
EDGX market; (ii) providing price support/depth of liquidity; and (iii)
increasing diversity of liquidity to EDGX. The increased liquidity
would benefit all investors by deepening EDGX's liquidity pool,
offering additional flexibility for all investors to enjoy cost
savings, supporting the quality of price discovery, promoting market
transparency and improving investor protection.
    Furthermore, the Exchange believes that the criteria for the Market
Depth Tier 2 represents an equitable allocation of reasonable dues,
fees, and other charges because higher rebates are directly correlated
with more stringent criteria. For example, for a Member to qualify for
the current Market Depth Tier, and receive a rebate of $0.0033 per
share for displayed liquidity, a Member must post at least 0.50% of the
TCV in ADV on EDGX in total, where at least 1.8 million shares are non-
displayed orders that add liquidity to EDGX yielding Flag HA. Based on
a TCV of six (6) billion shares, this would amount to 30,000,000 shares
for the Market Depth Tier while the Market Depth Tier 2 would require
an ADV of 10,000,000 shares. Members seeking to achieve the Market
Depth Tier would also be required to post at least 1.8 million shares
of non-displayed orders that add liquidity to EDGX yielding Flag HA,
whereas the Market Depth Tier 2 would require that Members post
1,000,000 shares of non-displayed orders that add liquidity to EDGX
yielding Flag HA. The lower volume requirement necessary to achieve the
Market Depth Tier 2 justifies its lower rebate. Lastly, the Exchange
believes that the proposed addition of the Market Depth Tier is non-
discriminatory because it applies uniformly to all Members.
Amendment to Market Depth Tier
    The Exchange believes that changing the ``Market Depth Tier'' to
the ``Market Depth Tier 1'' is reasonable because it conforms to the
numbering of the proposed Market Depth Tier 2. The Exchange notes that
the criteria necessary to achieve the tier and the rate offered by the
tier would remain unchanged.
Amendment to the Tape B Step-Up Tier
    The Exchange believes that increasing the rebate offered by the
Tape B Step-

Up Tier from $0.0025 per share to $0.0027 per share represents an
equitable allocation of reasonable dues, fees, and other charges
because it would encourage Members to add liquidity to EDGX to qualify
for a higher rebate. The rebate of $0.0027 per share for the Tape B
Step-Up Tier is reasonable when compared to the Step-Up Tier 1 in Tape
B securities offered by NYSE Arca.\11\ NYSE Arca currently offers a
non-tiered rebate for adding liquidity in Tape B securities of $0.22
per share and a non-tiered fee for removing liquidity in Tape B
securities of $0.30 per share. NYSE Arca's Step-Up Tier 1 provides for
an add rebate of $0.23 per share and a removal fee of $0.28 per share
for firms that add an excess of 0.20% in ADV in Tape B securities over
a benchmark month, subject to a minimum increase of 20 million shares.
The Tape B Step-Up Tier is similar to NYSE Arca's Step-Up Tier 1 in
Tape B securities in that it provides Members with an increased rebate
in exchange for increased volume in Tape B securities. The Exchange
believes the increased rebate under the Tape B Step-Up Tier is
reasonable in that it would encourage market participants to send
additional liquidity in Tape B securities to EDGX in exchange for a
higher rebate. Lastly, The Exchange believes that the proposed rate is
non-discriminatory in that it applies uniformly to all Members.
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    \11\ NYSE Arca Equities Trading Fees, available at http://usequities.nyx.com/markets/nyse-arca-equities/trading-fees.
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Amendment to the MidPoint Match Volume Tier
    The Exchange believes that lowering the ADV requirement in Flags MM
and/or MT for the MidPoint Match Volume Tier represents an equitable
allocation of reasonable dues, fees, and other charges because slightly
lowering the threshold to achieve the tier encourages Members to add
liquidity at the midpoint of the national best bid or offer (``NBBO'')
to the EDGX Book \12\ each month. Only the liquidity added at the
midpoint of the NBBO in this tier is not charged a fee, while both
added and removed liquidity in Flags MM and MT are counted towards
achieving the tier's ADV threshold. The Exchange believes that Members
utilizing MPM orders that add liquidity at the midpoint of the NBBO may
receive the benefit of price improvement, and lowering the ADV
requirement of the MidPoint Match Volume Tier and its associated lower
rate would be a reasonable means by which to encourage the use of such
orders. In addition, the Exchange believes that by encouraging the use
of MPM orders, Members seeking price improvement would be more
motivated to direct their orders to EDGX because they would have a
heightened expectation of the availability of liquidity at the midpoint
of the NBBO. In addition, the Exchange also believes that the proposed
amendment to the MidPoint Match Volume Tier is non-discriminatory
because it applies uniformly to all Members.
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    \12\ The EDGX Book is the System's electronic file of orders.
See Exchange Rule 1.5(d).
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Flag RZ
    The Exchange believes that its proposal to decrease the pass
through rebate for Members' orders that yield Flag RZ from $0.0025 to
$0.0020 per share represents an equitable allocation of reasonable
dues, fees, and other charges among Members and other persons using its
facilities because the Exchange does not levy additional fees or offer
additional rebates for orders that it routes to BATS through DE Route.
Prior to BATS's October 2013 fee change, BATS provided DE Route a
rebate of $0.0025 per share for orders yielding Flag RZ, which DE Route
passed through to the Exchange and the Exchange passed through to its
Members. In October 2013, BATS decreased the standard rebate it
provides its customers, such as DE Route, from a rebate of $0.0025 per
share to a rebate of $0.0020 per share for orders that are routed to
BATS.\13\ Therefore, the Exchange believes that the proposed change in
Flag RZ from a rebate of $0.0025 per share to a rebate of $0.0020 per
share is equitable and reasonable because it accounts for the pricing
changes on BATS. In addition, the proposal allows the Exchange to
continue to charge its Members a pass-through rate for orders that are
routed to BATS. The Exchange notes that routing through DE Route is
voluntary. Lastly, the Exchange also believes that the proposed
amendment is non-discriminatory because it applies uniformly to all
Members.
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    \13\ See BATS Exchange Pricing Effective October 1, 2013, http://cdn.batstrading.com/resources/fee_schedule/2013/BATS-BZX-Exchange-Pricing-Effective-October-1-2013.pdf (offering a standard, non-
tiered rebate of $0.0020 per share).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    These proposed rule changes do not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act. The Exchange does not believe that any of these changes
represent a significant departure from previous pricing offered by the
Exchange or pricing offered by the Exchange's competitors.
Additionally, Members may opt to disfavor EDGX's pricing if they
believe that alternatives offer them better value. Accordingly, the
Exchange does not believe that the proposed changes will impair the
ability of Members or competing venues to maintain their competitive
standing in the financial markets.
Amendment to Mega Tier 1
    The Exchange believes that increasing the removal fee under the
Mega Tier 1 would not impact intermarket competition because it is
similar to removal rates offered by the Exchange's Mega Tier 2 in
Footnote 1 of its Fee Schedule \14\ and other similar tiers on NYSE
Arca.\15\ The Exchange believes that the proposed tier would neither
increase nor decrease intramarket competition because the proposed
removal rate offered by the tier would apply uniformly to all Members
that meet the requirements necessary to achieve the tier.
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    \14\ Members that qualify for the Mega Tier 2 are charged a
discounted removal rate of $0.0029. See the Exchange's Fee Schedule,
available at http://www.directedge.com/Membership/FeeSchedule/EDGXFeeSchedule.aspx.
    \15\ For example, the Mega Tier 3's proposed discounted removal
rate of $0.0029 per share (from a standard rate of $0.0030 per
share) is also reasonable because it is similar in concept to
discounted removal rates offered by NYSE Arca, which offers a
discounted removal rate of $0.0029 (from a standard rate of $0.0030
per share) to customers that qualify for its Tape C Step Up Tier.
See NYSE Arca, Schedule of Fees and Charges for Exchange Services,
https://usequities.nyx.com/sites/usequities.nyx.com/files/nyse_arca_marketplace_fees__9.4.13.pdf.
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Amendment to Mega Tier 3
    The Exchange believes that the proposed discounted removal rate for
Mega Tier 3 would increase intermarket competition because it would
encourage market participants to send additional liquidity to EDGX in
exchange for a discounted removal rate. The Exchange believes that the
proposed discounted removal rate would neither increase nor decrease
intramarket competition because the discounted removal rate offered by
the tier would apply uniformly to all Members that meet the
requirements necessary to achieve the tier.
Addition of Market Depth Tier 2
    The Exchange believes that the proposed addition of the Market
Depth Tier 2 would increase intermarket competition because it would
encourage market participants to send additional liquidity to EDGX in
exchange for an increased rebate. The Exchange believes that the
proposed tier would neither

increase nor decrease intramarket competition because the increased
rebate offered by the tier would apply uniformly to all Members that
meet the requirements necessary to achieve the tier.
Amendment to Market Depth Tier
    The Exchange believes that the proposed non-substantive change to
the Market Depth Tier would neither affect intermarket nor intramarket
competition because the change does not alter the criteria necessary to
achieve the tier nor does it alter the rate offered by the tier.
Amendment to the Tape B Step-Up Tier
    The Exchange believes that the proposed increased rebate under the
Tape B Step-Up Tier would increase intermarket competition because it
would encourage market participants to send additional liquidity in
Tape B securities to EDGX in exchange for a higher rebate. The Exchange
believes that the proposed increased rebate would neither increase nor
decrease intramarket competition because the increased rebate offered
by the tier would apply uniformly to all Members that meet the
requirements necessary to achieve the tier.
Amendments to the MidPoint Match Volume Tier
    The Exchange believes that its proposal to decrease the ADV
requirement in Flags MM and/or MT in the MidPoint Match Volume Tier
would increase intermarket competition because the lower ADV
requirement would incentivize Members that could not previously meet
the tier to send higher volume to the Exchange. The Exchange believes
that its proposal would neither increase nor decrease intramarket
competition because the MidPoint Match Volume Tier would continue to
apply uniformly to all Members and the ability of some Members to meet
the tier would only benefit other Members by contributing to increased
liquidity at the midpoint of the NBBO and better market quality at the
Exchange.
Flag RZ
    The Exchange believes that its proposal to pass through a rebate of
$0.0020 per share for Members' orders that yield Flag RZ would increase
intermarket competition because it offers customers an alternative
means to route to BATS for the same price as entering orders on BATS
directly. The Exchange believes that its proposal would not burden
intramarket competition because the proposed rate would apply uniformly
to all Members.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from Members or other interested
parties.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \16\ and Rule 19b-4(f)(2) \17\ thereunder. At
any time within 60 days of the filing of such proposed rule change, the
Commission summarily may temporarily suspend such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
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    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 17 CFR 240.19b-4(f)(2).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the 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/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-EDGX-2013-37 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-EDGX-2013-37. This file
number should be included on the subject line if email 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/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change 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 Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. 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 SR-EDGX-2013-37 and should be
submitted on or before November 12, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-24555 Filed 10-21-13; 8:45 am]
BILLING CODE 8011-01-P