Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt Generic Listing Standards for Managed Fund Shares, 987 [2016-104]

Download as PDF Federal Register / Vol. 81, No. 5 / Friday, January 8, 2016 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76819; File No. SR– NYSEArca–2015–110] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt Generic Listing Standards for Managed Fund Shares January 4, 2016. asabaliauskas on DSK5VPTVN1PROD with NOTICES On November 6, 2015, NYSE Arca, Inc. (‘‘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 amend NYSE Arca Equities Rule 8.600 and to adopt generic listing standards for Managed Fund Shares. The proposed rule change was published for comment in the Federal Register on November 27, 2015.3 On November 23, 2015, the Exchange filed Amendment No. 1 to the proposed rule change, which replaced and superseded the original proposal in its entirety. The Commission has received one comment letter on the proposal.4 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 after publication of the notice for this proposed rule change is January 11, 2016. 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 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 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 76486 (Nov. 20, 2015), 80 FR 74169. 4 See Letter from Rob Ivanoff to the Commission dated Nov. 22, 2015. All comments on the proposed rule change are available on the Commission’s Web site at: https://www.sec.gov/comments/sr-nysearca2015-110/nysearca2015110.shtml. 5 15 U.S.C. 78s(b)(2). 6 Id. designates February 25, 2016, 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–NYSEArca– 2015–110). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–104 Filed 1–7–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76816; File No. SR–EDGX– 2015–67] Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of EDGX Exchange, Inc. January 4, 2016. 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 December 22, 2015, EDGX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘EDGX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act 3 and Rule 19b–4(f)(2) thereunder,4 which renders the proposed rule change effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the fee schedule applicable to Members 5 and non-members of the Exchange pursuant to EDGX Rules 15.1(a) and (c) (‘‘Fee Schedule’’) to 2 17 VerDate Sep<11>2014 20:40 Jan 07, 2016 Jkt 238001 6 Id. 7 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 5 The term ‘‘Member’’ is defined as ‘‘any registered broker or dealer that has been admitted 1 15 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 987 adopt a new tier called the Investor Depth Tier under footnote 1. The text of the proposed rule change is available at the Exchange’s Web site at www.batstrading.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 Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange 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 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 Currently, the Exchange determines the liquidity adding rebate that it will provide to Members using the Exchange’s tiered pricing structure. Under such pricing structure, a Member will receive a rebate of anywhere between $0.0025 and $0.0035 per share executed, depending on the volume tier for which such Member qualifies. The Exchange proposes to adopt a new tier called the Investor Depth Tier under footnote 1 of the Fee Schedule. Members who would qualify for the Investor Depth Tier would receive a rebate of $0.0033 per share where they: (i) Add an ADV 6 of at least 0.15% of the TCV; 7 (ii) have an ‘‘added liquidity’’ as a percentage of ‘‘added plus removed liquidity’’ of at least 85%; and (3) add an ADV of at least 500,000 share as Nondisplayed 8 orders that yield fee code HA.9 The Exchange proposes to implement this amendment to its Fee Schedule on January 4, 2016.10 6 As defined in the Exchange’s Fee Schedule available at https://batstrading.com/support/fee_ schedule/edgx/. 7 Id. 8 See Exchange Rule 11.6(e)(2). 9 Fee code HA is appended to Non-displayed orders that add liquidity on the Exchange. See the Exchange’s Fee Schedule available at https:// batstrading.com/support/fee_schedule/edgx/. 10 The Exchange notes that the Fee Schedule’s date was amended to January 4, 2016 in file no. SR– EDGX–2015–62. See Securities Exchange Act Release No. 76713 (December 21, 2015). E:\FR\FM\08JAN1.SGM 08JAN1

Agencies

[Federal Register Volume 81, Number 5 (Friday, January 8, 2016)]
[Notices]
[Page 987]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-104]



[[Page 987]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76819; File No. SR-NYSEArca-2015-110]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change To Adopt Generic Listing Standards for Managed Fund Shares

January 4, 2016.
    On November 6, 2015, NYSE Arca, Inc. (``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 amend NYSE Arca 
Equities Rule 8.600 and to adopt generic listing standards for Managed 
Fund Shares. The proposed rule change was published for comment in the 
Federal Register on November 27, 2015.\3\ On November 23, 2015, the 
Exchange filed Amendment No. 1 to the proposed rule change, which 
replaced and superseded the original proposal in its entirety. The 
Commission has received one comment letter on the proposal.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 76486 (Nov. 20, 
2015), 80 FR 74169.
    \4\ See Letter from Rob Ivanoff to the Commission dated Nov. 22, 
2015. All comments on the proposed rule change are available on the 
Commission's Web site at:  https://www.sec.gov/comments/sr-nysearca-2015-110/nysearca2015110.shtml.
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    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 after publication of the notice for this proposed rule change 
is January 11, 2016. The Commission is extending this 45-day time 
period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change 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 
February 25, 2016, 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-NYSEArca-2015-110).
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-104 Filed 1-7-16; 8:45 am]
 BILLING CODE 8011-01-P
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