On September 19, BATS Exchange, Inc. (the Exchange) submitted a proposal to the Securities and Exchange Commission to amend the Exchange’s rules to provide members the ability to register as market makers and to register their officers, partners, employees or other associated persons as market maker authorized traders. In addition to proposing that definitions of “Market Maker” and “Market Maker Authorized Trader” be included in Rule 1.5 – Definitions, the Exchange proposes to amend Rules 11.5 through 11.8 regarding, respectively, (i) registration as and requirements of a Market Maker; (ii) registration as and requirements and obligations of a Market Maker Authorized Trader; (iii) registration of Market Makers in a security; and (iv) obligations of Market Makers.

Because the proposal was filed as a “non-controversial” rule change, it was effective upon filing with the SEC but does not become operative for 30 days from the filing date.

http://www.sec.gov/rules/sro/bats/2008/34-58644.pdf