Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, Relating to the Listing and Trading of the Shares of 18 Eaton Vance NextShares ETMFs of Either the Eaton Vance ETMF Trust or the Eaton Vance ETMF Trust II, 34184-34185 [2015-14477]

Download as PDF 34184 Federal Register / Vol. 80, No. 114 / Monday, June 15, 2015 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 12 of the Act and subparagraph (f)(2) of Rule 19b–4 13 thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. 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 under Section 19(b)(2)(B) 14 of the Act to determine whether the proposed rule change 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: asabaliauskas on DSK5VPTVN1PROD with NOTICES 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– NYSEArca–2015–49 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEArca–2015–49. 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 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 14 15 U.S.C. 78s(b)(2)(B). (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 the filing will also be available for inspection and copying at the NYSE’s principal office and on its Internet Web site at www.nyse.com. 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– NYSEArca–2015–49, and should be submitted on or before July 6, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–14478 Filed 6–12–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–75121; File No. SR– NASDAQ–2015–036] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, Relating to the Listing and Trading of the Shares of 18 Eaton Vance NextShares ETMFs of Either the Eaton Vance ETMF Trust or the Eaton Vance ETMF Trust II June 8, 2015. I. Introduction On April 10, 2015, The NASDAQ Stock Market LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) 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 12 15 13 17 VerDate Sep<11>2014 16:39 Jun 12, 2015 15 17 1 15 Jkt 235001 PO 00000 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). Frm 00057 Fmt 4703 Sfmt 4703 thereunder,2 a proposed rule change to list and trade the shares (‘‘Shares’’) of the following 18 exchange-traded managed funds: Eaton Vance Balanced NextSharesTM; Eaton Vance Global Dividend Income NextSharesTM; Eaton Vance Growth NextSharesTM; Eaton Vance Large-Cap Value NextSharesTM; Eaton Vance Richard Bernstein All Asset Strategy NextSharesTM; Eaton Vance Richard Bernstein Equity Strategy NextSharesTM; Eaton Vance Small-Cap NextSharesTM; Eaton Vance Stock NextSharesTM; Parametric Emerging Markets NextSharesTM; Parametric International Equity NextSharesTM; Eaton Vance Bond NextSharesTM; Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextSharesTM; Eaton Vance Floating-Rate & High Income NextSharesTM; Eaton Vance Global Macro Absolute Return NextSharesTM; Eaton Vance Government Obligations NextSharesTM; Eaton Vance High Income Opportunities NextSharesTM; Eaton Vance High Yield Municipal Income NextSharesTM; and Eaton Vance National Municipal Income NextSharesTM (collectively, ‘‘Funds’’). On April 21, 2015, the Exchange filed Amendments Nos. 1 and 2 to the proposal.3 The proposed rule change, as modified by Amendments Nos. 1 and 2 thereto, was published for comment in the Federal Register on April 29, 2015.4 The Commission received no comments on the proposed rule change. Section 19(b)(2) of the Act 5 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day for this filing is June 13, 2015. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change, which seeks to list and trade Shares of the Funds pursuant to Nasdaq Rule 5745 governing the listing 2 17 CFR 240.19b–4. No. 1 amended and replaced the proposed rule change in its entirety. Amendment No. 2 subsequently amended the proposal to include a new footnote to reflect a Web site reference. 4 See Securities Exchange Act Release No. 74797 (Apr. 23, 2015), 80 FR 23831 (‘‘Notice’’). 5 15 U.S.C. 78s(b)(2). 3 Amendment E:\FR\FM\15JNN1.SGM 15JNN1 Federal Register / Vol. 80, No. 114 / Monday, June 15, 2015 / Notices and trading of Exchange-Traded Managed Fund Shares, so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates July 28, 2015, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–NASDAQ–2015–036). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–14477 Filed 6–12–15; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–75130; File No. SR–ISE– 2015–19] June 9, 2015. 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 June 1, 2015, the International Securities Exchange, LLC (the ‘‘Exchange’’ or the ‘‘ISE’’) filed with the Securities and Exchange 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. asabaliauskas on DSK5VPTVN1PROD with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The ISE proposes to amend the Schedule of Fees to increase certain complex order fees in Select Symbols, and to introduce tiered fees for certain Market Maker complex orders based on affiliated Priority Customer complex order volume. The text of the proposed rule change is available on the Exchange’s Web site (https:// www.ise.com), at the principal office of CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 16:39 Jun 12, 2015 Jkt 235001 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. 1. Purpose Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Schedule of Fees 7 17 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change SECURITIES AND EXCHANGE COMMISSION 6 Id. the Exchange, and at the Commission’s Public Reference Room. The purpose of the proposed rule change is to increase certain complex order fees in Select Symbols,3 and to introduce tiered fees for certain Market Maker 4 complex orders based on affiliated Priority Customer 5 complex order volume. Currently, the Exchange charges complex order taker fees in Select Symbols that are $0.43 per contract for Market Maker orders,6 and $0.44 per contract for Non-ISE Market Maker,7 Firm Proprietary 8/BrokerDealer,9 and 3 ‘‘Select Symbols’’ are options overlying all symbols listed on the ISE that are in the Penny Pilot Program. 4 The term ‘‘Market Makers’’ refers to ‘‘Competitive Market Makers’’ and ‘‘Primary Market Makers’’ collectively. See Rule 100(a)(25). 5 A ‘‘Priority Customer’’ is a person or entity that is not a broker/dealer in securities, and does not place more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s), as defined in ISE Rule 100(a)(37A). 6 ISE Market Makers making or taking liquidity receive a discount of $0.02 when trading against Priority Customer orders preferenced to them in the Complex Order Book in equity options that are able to be listed and traded on more than one options exchange. This discount does not apply to FX Options Symbols or to option classes designated by the Exchange to receive a guaranteed allocation pursuant to ISE Rule 722(b)(3)(i)(B). 7 A ‘‘Non-ISE Market Maker’’ is a market maker as defined in Section 3(a)(38) of the Securities Exchange Act of 1934, as amended, registered in the same options class on another options exchange. 8 A ‘‘Firm Proprietary’’ order is an order submitted by a member for its own proprietary account. 9 A ‘‘Broker-Dealer’’ order is an order submitted by a member for a broker-dealer account that is not its own proprietary account. PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 34185 Professional Customer 10 orders.11 The Exchange also charges an equivalent maker fee in Select Symbols that applies specifically when trading against Priority Customer orders. The Exchange now proposes to increase the above fees for Non-ISE Market Maker, Firm Proprietary/Broker-Dealer, and Professional Customer orders to $0.47 per contract. For Market Maker orders, the Exchange proposes to charge a tiered fee based on total affiliated Priority Customer complex order average daily volume (‘‘ADV’’).12 As proposed, Market Makers with a total affiliated Priority Customer ADV of up to 149,999 contracts will pay a fee of $0.46 per contract, while Market Makers with a total affiliated Priority Customer Complex ADV of 150,000 or more contracts will pay fees at the current rate of $0.43 per contract.13 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,14 in general, and Section 6(b)(4) of the Act,15 in particular, in that 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. The Exchange believes that the proposed fee increase is reasonable and equitable as the proposed fees are set at levels that the Exchange believes will continue to be attractive to market participants that trade on ISE, and offset rebates provided to Priority Customer complex orders, which were recently 10 A ‘‘Professional Customer’’ is a person or entity that is not a broker/dealer and is not a Priority Customer. 11 Priority Customer Complex Orders are not charged maker/taker fees and are instead provided a volume based rebate that ranges from $0.30 per contract to $0.46 per contract in Select Symbols. 12 As is the case for other fees based on affiliated member volume, the Exchange will continue to aggregate eligible volume from affiliated members in determining total affiliated Priority Customer Complex ADV, provided there is at least 75% common ownership between the Members as reflected on each Member’s Form BD, Schedule A. For purposes of determining Priority Customer Complex ADV, any day that the complex order book is not open for the entire trading day may be excluded from such calculation; provided that the Exchange will only remove the day for members that would have a lower ADV with the day included. 13 The fee for the highest volume tier achieved will be applied retroactively to all eligible volume once the threshold has been reached. Preferenced Market Makers will continue to be eligible for a $0.02 per contract discount as described in footnote 6 above. 14 15 U.S.C. 78f. 15 15 U.S.C. 78f(b)(4). E:\FR\FM\15JNN1.SGM 15JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 80, Number 114 (Monday, June 15, 2015)]
[Notices]
[Pages 34184-34185]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-14477]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75121; File No. SR-NASDAQ-2015-036]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, 
Relating to the Listing and Trading of the Shares of 18 Eaton Vance 
NextShares ETMFs of Either the Eaton Vance ETMF Trust or the Eaton 
Vance ETMF Trust II

June 8, 2015.

I. Introduction

    On April 10, 2015, The NASDAQ Stock Market LLC (``Nasdaq'' or 
``Exchange'') 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 the shares (``Shares'') of the 
following 18 exchange-traded managed funds: Eaton Vance Balanced 
NextShares^TM; Eaton Vance Global Dividend Income 
NextShares^TM; Eaton Vance Growth NextShares^TM; 
Eaton Vance Large-Cap Value NextShares^TM; Eaton Vance 
Richard Bernstein All Asset Strategy NextShares^TM; Eaton 
Vance Richard Bernstein Equity Strategy NextShares^TM; Eaton 
Vance Small-Cap NextShares^TM; Eaton Vance Stock 
NextShares^TM; Parametric Emerging Markets 
NextShares^TM; Parametric International Equity 
NextShares^TM; Eaton Vance Bond NextShares^TM; 
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond 
NextShares^TM; Eaton Vance Floating-Rate & High Income 
NextShares^TM; Eaton Vance Global Macro Absolute Return 
NextShares^TM; Eaton Vance Government Obligations 
NextShares^TM; Eaton Vance High Income Opportunities 
NextShares^TM; Eaton Vance High Yield Municipal Income 
NextShares^TM; and Eaton Vance National Municipal Income 
NextShares^TM (collectively, ``Funds''). On April 21, 2015, 
the Exchange filed Amendments Nos. 1 and 2 to the proposal.\3\ The 
proposed rule change, as modified by Amendments Nos. 1 and 2 thereto, 
was published for comment in the Federal Register on April 29, 2015.\4\ 
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\ Amendment No. 1 amended and replaced the proposed rule 
change in its entirety. Amendment No. 2 subsequently amended the 
proposal to include a new footnote to reflect a Web site reference.
    \4\ See Securities Exchange Act Release No. 74797 (Apr. 23, 
2015), 80 FR 23831 (``Notice'').
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is June 13, 2015. The Commission is extending 
this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change, which seeks to 
list and trade Shares of the Funds pursuant to Nasdaq Rule 5745 
governing the listing

[[Page 34185]]

and trading of Exchange-Traded Managed Fund Shares, so that it has 
sufficient time to consider this proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates July 28, 2015, as the date by which the Commission 
shall either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File No. SR-
NASDAQ-2015-036).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-14477 Filed 6-12-15; 8:45 am]
 BILLING CODE 8011-01-P

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