SEC Grants BAT Y-Exchange, Inc. an Extension of Limited Exemption from Reg. NMS Rule 612(c)

The SEC granted the BATS y-Exchange, Inc. ("BYX") an extension to the limited exemption from Regulation NMS Rule 612(c) ("Sub-Penny Rule") in connection with the operation of the BYX Retail Price Improvement ("RPI") Program. BYX was originally granted a limited exemption from the Sub-Penny Rule on November 27, 2012. That exemption was granted coterminous with the effectiveness of the pilot RPI Program, which is scheduled to expire on January 11, 2014. BYX requested an extension of the exemption until January 31, 2015, and the request was made in conjunction with an immediately effective filing that extends the operation of the RPI Program until January 31, 2015. The SEC has granted the extension of the limited exemption, which will allow BYX to accept and rank orders priced equal to or greater than $1.00 per share in increments of $0.001, in connection with the operation of its RPI Program.

See:SEC Order Granting Extension to Limited Exemption for BYX.