Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of ProShares QuadPro Funds Under Commentary .02 to NYSE Arca Equities Rule 8.200, 46315 [2017-21274]
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Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices
approve or disapprove or institute
proceedings to determine whether to
disapprove the proposed rule change
(File Number SR–NYSEArca–2017–69).
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81746; File No. SR–
NYSEArca–2017–69]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of a
Longer Period for Commission Action
on a Proposed Rule Change To List
and Trade Shares of ProShares
QuadPro Funds Under Commentary
.02 to NYSE Arca Equities Rule 8.200
sradovich on DSK3GMQ082PROD with NOTICES
September 28, 2017.
On July 31, 2017, 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
ProShares QuadPro U.S. Large Cap
Futures Long Fund, ProShares QuadPro
U.S. Large Cap Futures Short Fund,
ProShares QuadPro U.S. Small Cap
Futures Long Fund, and ProShares
QuadPro U.S. Small Cap Futures Short
Fund under Commentary .02 to NYSE
Arca Equities Rule 8.200. The proposed
rule change was published for comment
in the Federal Register on August 18,
2017.3 The Commission received no
comments on the proposed rule change.
Section 19(b)(2) of the Act 4 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 October 2,
2017. The Commission is extending this
45-day 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,5 designates
November 16, 2017, as the date by
which the Commission shall either
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 81388
(August 14, 2017), 82 FR 39477.
4 15 U.S.C. 78s(b)(2).
5 Id.
2 17
VerDate Sep<11>2014
20:18 Oct 03, 2017
Jkt 244001
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–21274 Filed 10–3–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81753; File No. SR–MIAX–
2017–41]
Self-Regulatory Organizations; Miami
International Securities Exchange LLC;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend MIAX Options Rule
529, Order Routing to Other
Exchanges
September 28, 2017.
Pursuant to the provisions of Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on September 20, 2017, Miami
International Securities Exchange, LLC
(‘‘MIAX Options’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) a
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the Exchange.
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 is filing a proposal to
amend Exchange Rule 529, Order
Routing to Other Exchanges.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.miaxoptions.com/rulefilings, at MIAX’s principal office, 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
6 17
CFR 200.30–3(a)(31).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00105
Fmt 4703
46315
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 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 Exchange proposes to amend
Rule 529, Order Routing to Other
Exchanges, to provide additional
information in the Route Notification
broadcast as described in subsection
(b)(2)(i). Specifically, the Exchange
proposes to include the expected price
to which the interest will be routed in
the Route Notification message
distributed via the Exchange’s data feed.
Additionally, the Exchange proposes to
amend the rule text to improve its
clarity and precision. The Exchange also
proposes to adopt new Interpretations
and Policies .02 to clarify that, for
purposes of Rule 529, the expected price
to which the interest will be routed is
the ABBO 3 at the start of the Route
Timer.
Under Exchange Rule 529 the
Exchange may automatically route
orders to other exchanges under certain
circumstances. The Exchange will
employ one of two Route Mechanisms,
Immediate Routing or the Route Timer,4
when a Public Customer 5 order is
received and/or reevaluated that is both
routable and marketable against the
opposite side ABBO upon receipt and
the Exchange’s disseminated market is
not equal to the opposite side ABBO, or
is equal to the opposite side ABBO and
of insufficient size to satisfy the order.6
Under the Exchange’s proposal, all
existing functionality of the Route
Timer will remain intact. Currently,
Public Customer orders that are not
eligible for Immediate Routing are
subject to a Route Timer. The Route
Timer, which will never exceed one
second, allows Market Makers 7 and
3 The term ‘‘ABBO’’ or ‘‘Away Best Bid or Offer’’
means the best bid(s) or offer(s) disseminated by
other Eligible Exchanges and calculated by the
Exchange based on market information received by
the Exchange from OPRA. See Exchange Rule 100.
4 A Route Timer is a brief timer that operates as
a pause before marketable interest is routed to an
away exchange. See Exchange Rule 529(b)(2)(i).
5 The term ‘‘Public Customer’’ means a person
that is not a broker or dealer in securities. See
Exchange Rule 100.
6 See Exchange Rule 529(b).
7 The term ‘‘Market Makers’’ refers to ‘‘Lead
Market Makers’’, ‘‘Primary Lead Market Makers’’
Continued
Sfmt 4703
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04OCN1
]]>Agencies
[Federal Register Volume 82, Number 191 (Wednesday, October 4, 2017)]
[Notices]
[Page 46315]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21274]
[[Page 46315]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-81746; File No. SR-NYSEArca-2017-69]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of a Longer Period for Commission Action on a Proposed Rule
Change To List and Trade Shares of ProShares QuadPro Funds Under
Commentary .02 to NYSE Arca Equities Rule 8.200
September 28, 2017.
On July 31, 2017, 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
ProShares QuadPro U.S. Large Cap Futures Long Fund, ProShares QuadPro
U.S. Large Cap Futures Short Fund, ProShares QuadPro U.S. Small Cap
Futures Long Fund, and ProShares QuadPro U.S. Small Cap Futures Short
Fund under Commentary .02 to NYSE Arca Equities Rule 8.200. The
proposed rule change was published for comment in the Federal Register
on August 18, 2017.\3\ 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. 81388 (August 14,
2017), 82 FR 39477.
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \4\ 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 October 2, 2017. The Commission is extending this 45-day time
period.
---------------------------------------------------------------------------
\4\ 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,\5\ designates November 16, 2017, 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
Number SR-NYSEArca-2017-69).
---------------------------------------------------------------------------
\5\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-21274 Filed 10-3-17; 8:45 am]
BILLING CODE 8011-01-P
