Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 2, to List and Trade Shares of the SPDR DoubleLine Short Duration Total Return Tactical ETF, 18660 [2016-07205]

Download as PDF 18660 Federal Register / Vol. 81, No. 62 / Thursday, March 31, 2016 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77451; File No. SR–BATS– 2016–04] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 2, to List and Trade Shares of the SPDR DoubleLine Short Duration Total Return Tactical ETF March 25, 2016. On February 4, 2016, BATS Exchange, 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 list and trade shares (‘‘Shares’’) of the SPDR DoubleLine Short Duration Total Return Tactical ETF (‘‘Fund’’). The proposed rule change was published for comment in the Federal Register on February 12, 2016.3 On March 8, 2016, the Exchange filed Amendment No. 1 to the proposed rule change. On March 24, 2016, the Exchange withdrew Amendment No. 1 and filed Amendment No. 2 to the proposed rule change.4 The Commission received no 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 77078 (February 8, 2016), 81 FR 7599. 4 Amendment No. 2 replaced the original filing in its entirety. In Amendment No. 2, the Exchange: (1) Modified the name of the Fund by replacing the word ‘‘Term’’ with ‘‘Duration;’’ (2) clarified that, under normal circumstances, at least 80% of the Fund’s net assets (plus the amount of borrowings for investment purposes) will be invested in its principal holdings; (3) stated that the Fund may invest up to 20% of its portfolio in securities issued or guaranteed by state or local governments or their agencies or instrumentalities; (4) clarified which assets held by the Fund would trade on markets that are members of the Intermarket Surveillance Group or that have entered into a comprehensive surveillance agreement with the Exchange; (5) clarified the application of the investment restrictions to derivatives and restricted securities; (6) described how fixed income instruments, including municipal securities, would be valued for purposes of calculating the net asset value of the Fund; (7) clarified that all statements and representations made in the filing regarding the description of the portfolio, limitations on portfolio holdings or reference assets, or the applicability of Exchange rules and surveillance procedures constitute continued listing requirements for listing the Shares on the Exchange; (8) stated that the issuer has represented to the Exchange that it will advise the Exchange of any failure by the Fund to comply with the continued listing requirements, and, pursuant to its obligations under section 19(g)(1) of the Act, the Exchange will surveil for compliance with the continued listing requirements, and if the Fund is not in compliance with the applicable listing requirements, the Exchange will commence delisting procedures under Exchange Rule 14.12; and (9) made other mstockstill on DSK4VPTVN1PROD with NOTICES 2 17 VerDate Sep<11>2014 19:09 Mar 30, 2016 Jkt 238001 comment letters 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 after publication of the notice for this proposed rule change is March 28, 2016. The Commission is extending this 45day time period. The Commission finds that it is 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, pursuant to section 19(b)(2) of the Act,6 designates May 12, 2016, as the date by which the Commission should either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR– BATS–2016–04), as modified by Amendment No. 2. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–07205 Filed 3–30–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77448; File No. SR–ICEEU– 2016–005] Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Equity Futures and Options March 25, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 technical amendments. Amendment No. 2 is available at: http://www.sec.gov/comments/sr-bats2016–04/bats201604.shtml. 5 15 U.S.C. 78s(b)(2). 6 15 U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 notice is hereby given that on March 11, 2016, ICE Clear Europe Limited (‘‘ICE Clear Europe’’ or ‘‘Clearing House’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule changes described in Items I, II and III below, which Items have been prepared by ICE Clear Europe. ICE Clear Europe filed the proposal pursuant to Section 19(b)(3)(A) of the Act,3 and Rule 19b–4(f)(4)(ii) 4 thereunder, so that the proposal was 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 principal purpose of the changes is to modify certain aspects of the ICE Clear Europe Clearing Procedures and the ICE Clear Europe Delivery Procedures in connection with equity futures and options contracts traded on the ICE Futures Europe market and cleared by ICE Clear Europe. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, ICE Clear Europe included statements concerning the purpose of and basis for the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. ICE Clear Europe has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The principal purpose of the amendments is to modify certain aspects of the ICE Clear Europe Clearing Procedures and the ICE Clear Europe Delivery Procedures relating to equity futures and options contracts traded on the ICE Futures Europe market and cleared by ICE Clear Europe. The ICE Clear Europe Clearing Procedures have been amended to revise certain provisions relating to option exercise and expiration, particularly in the context of equity options. In particular, in paragraph 5.8 of the Clearing Procedures, amendments are made to clarify that allocations of 3 15 4 17 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(4)(ii). E:\FR\FM\31MRN1.SGM 31MRN1

Agencies

[Federal Register Volume 81, Number 62 (Thursday, March 31, 2016)]
[Notices]
[Page 18660]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-07205]



[[Page 18660]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77451; File No. SR-BATS-2016-04]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment No. 2, to List and Trade Shares of the 
SPDR DoubleLine Short Duration Total Return Tactical ETF

March 25, 2016.
    On February 4, 2016, BATS Exchange, 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 list and trade 
shares (``Shares'') of the SPDR DoubleLine Short Duration Total Return 
Tactical ETF (``Fund''). The proposed rule change was published for 
comment in the Federal Register on February 12, 2016.\3\ On March 8, 
2016, the Exchange filed Amendment No. 1 to the proposed rule change. 
On March 24, 2016, the Exchange withdrew Amendment No. 1 and filed 
Amendment No. 2 to the proposed rule change.\4\ The Commission received 
no comment letters 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. 77078 (February 8, 
2016), 81 FR 7599.
    \4\ Amendment No. 2 replaced the original filing in its 
entirety. In Amendment No. 2, the Exchange: (1) Modified the name of 
the Fund by replacing the word ``Term'' with ``Duration;'' (2) 
clarified that, under normal circumstances, at least 80% of the 
Fund's net assets (plus the amount of borrowings for investment 
purposes) will be invested in its principal holdings; (3) stated 
that the Fund may invest up to 20% of its portfolio in securities 
issued or guaranteed by state or local governments or their agencies 
or instrumentalities; (4) clarified which assets held by the Fund 
would trade on markets that are members of the Intermarket 
Surveillance Group or that have entered into a comprehensive 
surveillance agreement with the Exchange; (5) clarified the 
application of the investment restrictions to derivatives and 
restricted securities; (6) described how fixed income instruments, 
including municipal securities, would be valued for purposes of 
calculating the net asset value of the Fund; (7) clarified that all 
statements and representations made in the filing regarding the 
description of the portfolio, limitations on portfolio holdings or 
reference assets, or the applicability of Exchange rules and 
surveillance procedures constitute continued listing requirements 
for listing the Shares on the Exchange; (8) stated that the issuer 
has represented to the Exchange that it will advise the Exchange of 
any failure by the Fund to comply with the continued listing 
requirements, and, pursuant to its obligations under section 
19(g)(1) of the Act, the Exchange will surveil for compliance with 
the continued listing requirements, and if the Fund is not in 
compliance with the applicable listing requirements, the Exchange 
will commence delisting procedures under Exchange Rule 14.12; and 
(9) made other technical amendments. Amendment No. 2 is available 
at: http://www.sec.gov/comments/sr-bats-2016-04/bats201604.shtml.
---------------------------------------------------------------------------

    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 March 28, 2016. The Commission is extending this 45-day time period.
---------------------------------------------------------------------------

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

    The Commission finds that it is 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, pursuant to section 19(b)(2) of the 
Act,\6\ designates May 12, 2016, as the date by which the Commission 
should either approve or disapprove or institute proceedings to 
determine whether to disapprove the proposed rule change (File Number 
SR-BATS-2016-04), as modified by Amendment No. 2.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-07205 Filed 3-30-16; 8:45 am]
 BILLING CODE 8011-01-P