Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Relating to Listing and Trading of Shares of the PIMCO Income Exchange-Traded Fund Under NYSE Arca Equities Rule 8.600, 69172-69173 [2014-27447]

Download as PDF 69172 Federal Register / Vol. 79, No. 224 / Thursday, November 20, 2014 / Notices Exchange believes the proposed fees and rebates are reasonable and equitable in light of the fact that Mini Options have a smaller exercise and assignment value, specifically 1/10th that of a standard option contract, and, as such, is providing fees and rebates for Mini Options that are 1/10th of those applicable to Standard Options. B. Self-Regulatory Organization’s Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,16 the Exchange does not believe that the proposed rule change will impose any burden on intermarket or intramarket competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange believes that eliminating special fees for Singly Listed Symbols will reduce the complexity of the Schedule of Fees to the benefit of members and investors, and will not have any competitive impact. In addition, the Exchange believes that the proposed modifications to its ADV calculation are pro-competitive and will result in lower total costs to end users, a positive outcome of competitive markets. The Exchange operates in a highly competitive market in which market participants can readily direct their order flow to competing venues. In such an environment, the Exchange must continually review, and consider adjusting, its fees and rebates to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed fee changes reflect this competitive environment. 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. rmajette on DSK2VPTVN1PROD with NOTICES 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)(ii) of the Act 17 and subparagraph (f)(2) of Rule 19b–4 thereunder,18 because it establishes a due, fee, or other charge imposed by ISE. 16 15 U.S.C. 78f(b)(8). U.S.C. 78s(b)(3)(A)(ii). 18 17 CFR 240.19b–4(f)(2). 17 15 VerDate Sep<11>2014 13:37 Nov 19, 2014 Jkt 235001 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. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– ISE–2014–51 on the subject line. Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–ISE–2014–51. 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 (https://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 such 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 PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–ISE– 2014–51, and should be submitted on or before December 11, 2014. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.19 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–27451 Filed 11–19–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–73598; File No. SR– NYSEArca–2014–56] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Relating to Listing and Trading of Shares of the PIMCO Income Exchange-Traded Fund Under NYSE Arca Equities Rule 8.600 November 14, 2014. On May 1, 2014, NYSE Arca, Inc. filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade shares of the PIMCO Income Exchange-Traded Fund under NYSE Arca Equities Rule 8.600. The proposed rule change was published for comment in the Federal Register on May 21, 2014.3 On June 24, 2014, the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.4 On August 19, 2014, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act 5 to determine whether to approve or disapprove the 19 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 72170 (May 15, 2014), 79 FR 29231. 4 See Securities Exchange Act Release No. 72458, 79 FR 36849 (Jun. 30, 2014). The Commission determined that it was appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission designated August 19, 2014 as the date by which it should approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change. 5 15 U.S.C. 78s(b)(2)(B). 1 15 E:\FR\FM\20NON1.SGM 20NON1 Federal Register / Vol. 79, No. 224 / Thursday, November 20, 2014 / Notices proposed rule change.6 The Commission received no comments on the proposed rule change. Section 19(b)(2) of the Act 7 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for that determination. The proposed rule change was published for notice and comment in the Federal Register on May 21, 2014.8 The 180th day after publication of the notice of the filing of the proposed rule change in the Federal Register is November 17, 2014, and the 240th day after publication of the notice of the filing of the proposed rule change in the Federal Register is January 16, 2015. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,9 designates January 16, 2015 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–NYSEArca– 2014–56). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–27447 Filed 11–19–14; 8:45 am] rmajette on DSK2VPTVN1PROD with NOTICES BILLING CODE 8011–01–P 6 See Securities Exchange Act Release No. 72867, 79 FR 50720 (Aug. 25, 2014). Specifically, the Commission instituted proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be ‘‘designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade,’’ and ‘‘to protect investors and the public interest.’’ See id. 7 15 U.S.C. 78s(b)(2). 8 See supra note 3 and accompanying text. 9 15 U.S.C. 78s(b)(2). 10 17 CFR 200.30–3(a)(57). VerDate Sep<11>2014 13:37 Nov 19, 2014 Jkt 235001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–73602; File No. SR– NYSEArca–2014–120] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Amendment No. 2 to Proposed Rule Change Relating to Listing and Trading Shares of the Sit Rising Rate Fund Under NYSE Arca Equities Rule 8.200 November 14, 2014. On October 16, 2014, NYSE Arca, Inc. (‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1)1 of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 2 and Rule 19b–4 thereunder,3 a proposed rule change to list and trade shares of the Sit Rising Rate Fund under NYSE Arca Equities Rule 8.200. The proposed rule change was published for comment in the Federal Register on November 4, 2014.4 The Commission received no comments on the proposal. Pursuant to Section 19(b)(1) of the Act 5 and Rule 19b–4 thereunder,6 notice is hereby given that, on November 6, 2014, the Exchange filed with the Commission Amendment No. 2 to the proposed rule change, as described in Sections I and II below, which Sections have been prepared by the Exchange.7 The Commission is publishing this notice to solicit comments from interested persons on the proposed rule change, as modified by Amendment No. 2 thereto. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to list and trade shares of the Sit Rising Rate Fund under NYSE Arca Equities Rule 8.200. The text of the proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 4 See Securities Exchange Act Release No. 73464 (Oct. 29, 2014), 79 FR 65437. 5 15 U.S.C. 78s(b)(1). 6 17 CFR 240.19b–4. 7 Amendment No. 2 replaces SR–NYSEArca– 2014–120 and supersedes such filing in its entirety. Amendment No. 1 was filed on November 3, 2014 and withdrawn on November 6, 2014. 2 15 PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 69173 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 those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose NYSE Arca Equities Rule 8.200, Commentary .02 permits the trading of Trust Issued Receipts (‘‘TIRs’’) either by listing or pursuant to unlisted trading privileges (‘‘UTP’’).8 The Exchange proposes to list and trade shares (‘‘Shares’’) of the Sit Rising Rate Fund (‘‘Fund’’) pursuant to NYSE Arca Equities Rule 8.200. The Fund is a series of the ETF Managers Group Commodity Trust I (the ‘‘Trust’’), a Delaware statutory trust.9 The Exchange notes that the Commission has previously approved the listing and trading of other issues of TIRs on the American Stock Exchange LLC,10 trading on NYSE Arca pursuant to UTP,11 and listing on NYSE Arca.12 In addition, the Commission has approved the listing and trading of other exchange-traded fund-like products linked to the performance of underlying currencies and commodities.13 8 Commentary .02 to NYSE Arca Equities Rule 8.200 applies to Trust Issued Receipts that invest in ‘‘Financial Instruments.’’ The term ‘‘Financial Instruments,’’ as defined in Commentary .02(b)(4) to NYSE Arca Equities Rule 8.200, means any combination of investments, including cash; securities; options on securities and indices; futures contracts; options on futures contracts; forward contracts; equity caps, collars and floors; and swap agreements. 9 The Trust submitted a registration statement with respect to the Fund on Form S–1 under the Securities Act of 1933 (‘‘1933 Act’’) on October 7, 2014 (File No. 333–199190) (the ‘‘Registration Statement’’). The description of the Fund and the Shares contained herein are based, in part, on the Registration Statement. 10 See, e.g., Securities Exchange Act Release No. 58161 (July 15, 2008), 73 FR 42380 (July 21, 2008) (SR–Amex–2008–39). 11 See, e.g., Securities Exchange Act Release No. 58163 (July 15, 2008), 73 FR 42391 (July 21, 2008) (SR–NYSEArca–2008–73). 12 See, e.g., Securities Exchange Act Release No. 70209 (August 15, 2013), 78 FR 51269 (June 24, 2013) (SR–NYSEArca–2013–60); Securities Exchange Act Release No. 58457 (September 3, 2008), 73 FR 52711 (September 10, 2008) (SR– NYSEArca–2008–91). 13 See, e.g., Securities Exchange Act Release Nos. 56131 (July 25, 2007), 77 FR 42212 (August 1, 2007) (SR–NYSEArca–2007–57) (order approving listing and trading on NYSE Arca of shares of eight issues E:\FR\FM\20NON1.SGM Continued 20NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 224 (Thursday, November 20, 2014)]
[Notices]
[Pages 69172-69173]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-27447]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-73598; File No. SR-NYSEArca-2014-56]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change 
Relating to Listing and Trading of Shares of the PIMCO Income Exchange-
Traded Fund Under NYSE Arca Equities Rule 8.600

November 14, 2014.
    On May 1, 2014, NYSE Arca, Inc. filed with the Securities and 
Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to list and trade shares of the 
PIMCO Income Exchange-Traded Fund under NYSE Arca Equities Rule 8.600. 
The proposed rule change was published for comment in the Federal 
Register on May 21, 2014.\3\ On June 24, 2014, the Commission 
designated a longer period within which to approve the proposed rule 
change, disapprove the proposed rule change, or institute proceedings 
to determine whether to disapprove the proposed rule change.\4\ On 
August 19, 2014, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act \5\ to determine whether to approve or 
disapprove the

[[Page 69173]]

proposed rule change.\6\ The Commission received no comments on the 
proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 72170 (May 15, 
2014), 79 FR 29231.
    \4\ See Securities Exchange Act Release No. 72458, 79 FR 36849 
(Jun. 30, 2014). The Commission determined that it was appropriate 
to designate a longer period within which to take action on the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change. Accordingly, the Commission designated August 
19, 2014 as the date by which it should approve, disapprove, or 
institute proceedings to determine whether to disapprove the 
proposed rule change.
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 72867, 79 FR 50720 
(Aug. 25, 2014). Specifically, the Commission instituted proceedings 
to allow for additional analysis of the proposed rule change's 
consistency with Section 6(b)(5) of the Act, which requires, among 
other things, that the rules of a national securities exchange be 
``designed to prevent fraudulent and manipulative acts and 
practices, to promote just and equitable principles of trade,'' and 
``to protect investors and the public interest.'' See id.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \7\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may, however, extend the period for issuing an 
order approving or disapproving the proposed rule change by not more 
than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for that determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on May 21, 2014.\8\ The 180th day after publication of 
the notice of the filing of the proposed rule change in the Federal 
Register is November 17, 2014, and the 240th day after publication of 
the notice of the filing of the proposed rule change in the Federal 
Register is January 16, 2015.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).
    \8\ See supra note 3 and accompanying text.
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\9\ designates January 16, 2015 as the date by which the Commission 
shall either approve or disapprove the proposed rule change (File No. 
SR-NYSEArca-2014-56).
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-27447 Filed 11-19-14; 8:45 am]
BILLING CODE 8011-01-P

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