SIFMA submitted comments to the Securities and Exchange Commission regarding a proposed rule change filed by the BATS Exchange Inc. (BATS) to replace current Rule 20.6 (“Current Rule”), entitled “Obvious Error,” with new Rule 20.6 (“Proposed Rule”), entitled “Nullification and Adjustment of Options Transactions including Obvious Error.”

SIFMA believes it is appropriate that the SEC approve BATS’ amended Rule 20.6 in order for the exchanges to have harmonized obvious and catastrophic error rules.