Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Make Technical and Conforming Changes to Section 703.02 of the NYSE Listed Company Manual, 46548-46550 [2017-21411]
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46548
Federal Register / Vol. 82, No. 192 / Thursday, October 5, 2017 / Notices
Fund to redeem Shares of the Fund
during the continuous offering of such
Shares.
Rule 10b–17
Rule 10b–17, with certain exceptions,
requires an issuer of a class of publicly
traded securities to give notice of certain
specified actions (for example, a
dividend distribution) relating to such
class of securities in accordance with
Rule 10b–17(b). Based on the
representations and facts in the Letter,
and subject to the conditions below, we
find that it is appropriate in the public
interest, and consistent with the
protection of investors to grant the Trust
a conditional exemption from Rule 10b–
17 because market participants will
receive timely notification of the
existence and timing of a pending
distribution, and thus the concerns that
the Commission raised in adopting Rule
10b–17 will not be implicated.7
Conclusion
ethrower on DSK3G9T082PROD with NOTICES
It is hereby ordered, pursuant to Rule
101(d) of Regulation M, that the Trust,
based on the representations and facts
presented in the Letter, is exempt from
the requirements of Rule 101 with
respect to the Fund, thus permitting
persons who may be deemed to be
participating in a distribution of Shares
of the Fund to bid for or purchase such
Shares during their participation in
such distribution.
It is further ordered, pursuant to Rule
102(e) of Regulation M, that the Trust,
based on the representations and the
facts presented in the Letter, is exempt
from the requirements of Rule 102 with
respect to the Fund, thus permitting the
Fund to redeem Shares of the Fund
during the continuous offering of such
Shares.
It is further ordered, pursuant to Rule
10b–17(b)(2), that the Trust, based on
the representations and the facts
presented in the Letter and subject to
the conditions below, is exempt from
the requirements of Rule 10b–17 with
respect to transactions in the shares of
the Fund.
This exemptive relief is subject to the
following conditions:
7 We also note that timely compliance with Rule
10b–17(b)(1)(v)(a) and (b) would be impractical in
light of the nature of the Fund. This is because it
is not possible for the Fund to accurately project ten
days in advance what dividend, if any, would be
paid on a particular record date. Further, the
Commission finds, based on the Applicants’
representations in the Letter, that the provision of
notices as described in the Letter would not
constitute a manipulative or deceptive device or
contrivance comprehended within the purpose of
Rule 10b–17.
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• The Trust will comply with Rule
10b–17 except for Rule 10b–
17(b)(1)(v)(a) and (b); and
• The Trust will provide the
information required by Rule 10b–
17(b)(1)(v)(a) and (b) to the Exchange as
soon as practicable before trading begins
on the ex-dividend date, but in no event
later than the time when the Exchange
last accepts information relating to
distributions on the day before the exdividend date.
This exemptive relief is subject to
modification or revocation at any time
the Commission determines that such
action is necessary or appropriate in
furtherance of the purposes of the
Exchange Act. Persons relying upon this
exemptive relief shall discontinue
transactions involving the Shares of the
Fund, pending presentation of the facts
for the Commission’s consideration, in
the event that any material change
occurs with respect to any of the facts
or representations made by the
Applicants and, consistent with all
preceding letters, particularly with
respect to the close alignment between
the market price of Shares and the
Fund’s NAV. In addition, persons
relying on this exemption are directed
to the anti-fraud and anti-manipulation
provisions of the Exchange Act,
particularly Sections 9(a) and 10(b), and
Rule 10b–5 thereunder.
Responsibility for compliance with
these and any other applicable
provisions of the federal securities laws
must rest with the persons relying on
this exemption. This order should not
be considered a view with respect to
any other question that the proposed
transactions may raise, including, but
not limited to the adequacy of the
disclosure concerning, and the
applicability of other federal or state
laws to, the proposed transactions.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–21400 Filed 10–4–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81776; File No. SR–NYSE–
2017–49]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Make
Technical and Conforming Changes to
Section 703.02 of the NYSE Listed
Company Manual
September 29, 2017.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on
September 20, 2017, New York Stock
Exchange LLC (‘‘NYSE’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I and II
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to make
technical and conforming changes to
Section 703.02 (part2) (Stock Split/
Stock Rights/Stock Dividend Listing
Process) (‘‘Section 703.02 (part2)’’) of
the NYSE Listed Company Manual
(‘‘Listed Company Manual’’). 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
Statutory Basis for, the Proposed Rule
Change
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 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.
1 15
U.S.C.78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
8 17
PO 00000
CFR 200.30–3(a)(6) and (9).
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Federal Register / Vol. 82, No. 192 / Thursday, October 5, 2017 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to make
certain technical and conforming
changes to Section 703.02 (part2) of the
Listed Company Manual.
Currently, Section 703.02(part 2)
provides that ‘‘a distribution of less than
25% is traded ‘‘ex’’ (without the
distribution) on and after the business
day prior to the record date.’’ Section
703.02 (part 2) was recently amended to
conform to amendments to Securities
and Exchange Act Rule 15c6–1(a),
which shortened the settlement cycle
from three days to two days (‘‘T+2).4
The tabulation chart in Section 703.02
(part2) setting forth the relation between
record dates and normal ex-dividend
dates according to the days of the week,
however, was inadvertently not updated
to reflect the shortened settlement cycle.
The Exchange accordingly proposes to
amend the tabulation chart to reflect
two day settlements, as follows:
Record date
Monday .....................
Tuesday ....................
Wednesday ...............
Thursday ...................
Friday ........................
Saturday ...................
Sunday ......................
Normal
ex-dividend date
preceding
preceding
preceding
preceding
day.
preceding
preceding
preceding
Friday.
Monday.
Tuesday.
WednesThursday.
Thursday.
Thursday.
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2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,5 in general, and
further the objectives of Section 6(b)(5)
of the Act,6 in particular, because it is
designed to prevent fraudulent and
manipulative acts and practices,
promote just and equitable principles of
trade, remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest.
In particular, the Exchange believes
that the proposed changes removes [sic]
impediments to and perfects the
mechanism of a free and open market by
conforming the tabulation chart in
Section 703.02 (part 2) of the Listed
4 See 17 CFR 240.15c6–1(a); Securities Exchange
Act Release No. 80021 (February 14, 2017), 82 FR
10931(February 16, 2017) (SR–NYSE–2016–87) and
Securities Exchange Act Release No. 81231 (July 27,
2017), 82 FR 36008 (August 2, 2017) (SR–NYSE–
2017–38).
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
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46549
Company Manual to reflect a two day
settlement, thereby reducing potential
confusion, and making the Exchange’s
rules easier to navigate. The Exchange
also believes that updating the
illustrative material in the Listed
Company Manual also removes
impediments to and perfects the
mechanism of a free and open market by
removing confusion that may result
from having outdated or inconsistent
material in the Listed Company Manual.
The Exchange believes that aligning
such material would not be inconsistent
with the public interest and the
protection of investors because investors
will not be harmed and in fact would
benefit from increased transparency,
thereby reducing potential confusion.
Commission,7 the proposed rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 8 and Rule
19b–4(f)(6) thereunder.9
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) 10 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
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:
The Exchange does not believe that
the proposed rule change would impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed change is not designed to
address any competitive issue but rather
is solely concerned with conforming
Section 703.02 (part 2) of the Listed
Company Manual to reflect the two day
settlement cycle. The Exchange also
believes that the proposed rule change
will serve to promote clarity and
consistency, thereby reducing burdens
on the marketplace and facilitating
investor protection.
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
Because the foregoing proposed rule
does not (i) significantly affect the
protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate if
consistent with the protection of
investors and the public interest,
provided that the self-regulatory
organization has given the Commission
written notice of its intent to file the
proposed rule change at least five
business days prior to the date of filing
of the proposed rule change or such
shorter time as designated by the
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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–
NYSE–2017–49 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–NYSE–2017–49. 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 (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
7 The
Exchange has fulfilled this requirement.
U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f)(6).
10 15 U.S.C. 78s(b)(2)(B).
8 15
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46550
Federal Register / Vol. 82, No. 192 / Thursday, October 5, 2017 / Notices
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 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
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–NYSE–
2017–49 and should be submitted on or
before October 26, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–21411 Filed 10–4–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81765; File No. SR–MRX–
2017–19]
Self-Regulatory Organizations; Nasdaq
MRX, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 716(c) on
the Block Order Mechanism
September 29, 2017.
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Pursuant to 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 August
18, 2017, Nasdaq MRX, LLC (‘‘MRX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II,
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 proposes to amend
Rule 716(c) to more accurately describe
the allocation methodology used in the
Block Order Mechanism, and add
language regarding how the block
execution price is determined.
The text of the proposed rule change
is available on the Exchange’s Web site
at www.ise.com, at the principal office
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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19:52 Oct 04, 2017
Jkt 244001
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 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 Block Order Mechanism is a
process by which a member can obtain
liquidity for the execution of blocksized orders,3 defined as orders for fifty
contracts or more.4 When an order is
entered in the Block Order Mechanism,
that order is exposed to members who
are given an opportunity to respond
with the prices and sizes at which they
would be willing to trade with the
block-sized order.5 The exposure period
is designated by the Exchange via
circular, but must be no less than 100
milliseconds and no more than 1
second.6 At the conclusion of the
exposure period, either an execution
will occur at a single block execution
price,7 or the order will be cancelled.8
The purpose of the proposed rule
change is to amend Rule 716(c) to more
accurately describe the allocation
methodology used in the Block Order
Mechanism, and add language regarding
how the block execution price is
determined. The Exchange believes that
these changes will increase
transparency around the operation of
the Block Order Mechanism to the
benefit of members and market
participants.
Currently, Rule 716(c)(2)(ii) provides
that Responses, quotes, and Professional
3 See
Rule 716(c).
Rule 716(a).
5 A ‘‘Response’’ is an electronic message that is
sent by members in response to a broadcast
message. See Rule 716(b).
6 See Supplementary Material .04 to Rule 716.
7 Responses and orders and quotes on the order
book at the time the block order is executed that
are priced better than the block execution price are
executed at the block execution price. See Rule
716(c)(2)(i).
8 See Rule 716(c)(2).
4 See
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Sfmt 4703
Orders 9 at the block execution price
will participate in the execution of the
block-size order according to Rule
713(e)—i.e., the Exchange’s regular
allocation rule. As implemented today,
however, interest that is executed in the
Block Order Mechanism follows the
customer priority pro-rata allocation
methodology designed for the
Exchange’s auction mechanisms,
including, for example, the Facilitation
Mechanism,10 Solicited Order
Mechanism,11 and Price Improvement
Mechanism,12 with the exception that
those two-sided auction mechanisms
also allocate contracts against the contra
order. This auction allocation
methodology is similar to the
Exchange’s regular allocation
methodology but does not provide
enhanced allocations to the Primary
Market Maker (‘‘PMM’’) pursuant to
Rule 713(e) and Supplementary Material
.01(b) to Rule 713.13 The Exchange
therefore proposes to amend Rule
716(c)(2)(ii) to provide that, at the block
execution price, Priority Customer
Orders and Priority Customer Responses
will be executed first in time priority,
and then quotes, Professional Orders,
and Professional Responses will
participate in the execution of the blocksize order based upon the percentage of
the total number of contracts available
at the block execution price that is
represented by the size of the quote,
Professional Order, or Professional
Response. In addition, the Exchange
proposes to specify in Rule 716(c)(2)(i)
that interest that is priced better than
the block execution price is executed in
full. In particular, the Exchange
proposes to amend this rule to state that
bids (offers) on the Exchange at the time
the block order is executed that are
priced higher (lower) than the block
execution price, as well as Responses
that are priced higher (lower) than the
block execution price, will be executed
in full at the block execution price.
Although Rule 716(c)(2)(ii) described
above explains how allocations are
handled at the block execution price,
the Exchange believes that additional
the additional clarity that interest that is
priced better than the block execution
9 The term ‘‘Professional Order’’ means an order
that is for the account of a person or entity that is
not a Priority Customer. See Rule 100(a)(37C).
10 See Rule 716(d).
11 See Rule 716(e).
12 See Rule 723.
13 Supplementary Material .01(b) to Rule 713
provides that, if the PMM is quoting at the best
price, it has participation rights equal to the greater
of the proportion of the total size at the best price
represented by the size of its quote, or a percentage
allocation entitlement based on the number of other
Professional Orders and market maker quotations at
the best price.
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]]>Agencies
[Federal Register Volume 82, Number 192 (Thursday, October 5, 2017)]
[Notices]
[Pages 46548-46550]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21411]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-81776; File No. SR-NYSE-2017-49]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Make Technical and Conforming Changes to Section 703.02 of the NYSE
Listed Company Manual
September 29, 2017.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on September 20, 2017, New York Stock Exchange LLC (``NYSE''
or the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II 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.
---------------------------------------------------------------------------
\1\ 15 U.S.C.78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to make technical and conforming changes to
Section 703.02 (part2) (Stock Split/Stock Rights/Stock Dividend Listing
Process) (``Section 703.02 (part2)'') of the NYSE Listed Company Manual
(``Listed Company Manual''). 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
Statutory Basis for, the Proposed Rule Change
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 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.
[[Page 46549]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to make certain technical and conforming
changes to Section 703.02 (part2) of the Listed Company Manual.
Currently, Section 703.02(part 2) provides that ``a distribution of
less than 25% is traded ``ex'' (without the distribution) on and after
the business day prior to the record date.'' Section 703.02 (part 2)
was recently amended to conform to amendments to Securities and
Exchange Act Rule 15c6-1(a), which shortened the settlement cycle from
three days to two days (``T+2).\4\ The tabulation chart in Section
703.02 (part2) setting forth the relation between record dates and
normal ex-dividend dates according to the days of the week, however,
was inadvertently not updated to reflect the shortened settlement
cycle. The Exchange accordingly proposes to amend the tabulation chart
to reflect two day settlements, as follows:
---------------------------------------------------------------------------
\4\ See 17 CFR 240.15c6-1(a); Securities Exchange Act Release
No. 80021 (February 14, 2017), 82 FR 10931(February 16, 2017) (SR-
NYSE-2016-87) and Securities Exchange Act Release No. 81231 (July
27, 2017), 82 FR 36008 (August 2, 2017) (SR-NYSE-2017-38).
------------------------------------------------------------------------
Record date Normal ex-dividend date
------------------------------------------------------------------------
Monday.............................. preceding Friday.
Tuesday............................. preceding Monday.
Wednesday........................... preceding Tuesday.
Thursday............................ preceding Wednesday.
Friday.............................. preceding Thursday.
Saturday............................ preceding Thursday.
Sunday.............................. preceding Thursday.
------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\5\ in general, and further the objectives
of Section 6(b)(5) of the Act,\6\ in particular, because it is designed
to prevent fraudulent and manipulative acts and practices, promote just
and equitable principles of trade, remove impediments to and perfect
the mechanism of a free and open market and a national market system,
and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
In particular, the Exchange believes that the proposed changes
removes [sic] impediments to and perfects the mechanism of a free and
open market by conforming the tabulation chart in Section 703.02 (part
2) of the Listed Company Manual to reflect a two day settlement,
thereby reducing potential confusion, and making the Exchange's rules
easier to navigate. The Exchange also believes that updating the
illustrative material in the Listed Company Manual also removes
impediments to and perfects the mechanism of a free and open market by
removing confusion that may result from having outdated or inconsistent
material in the Listed Company Manual. The Exchange believes that
aligning such material would not be inconsistent with the public
interest and the protection of investors because investors will not be
harmed and in fact would benefit from increased transparency, thereby
reducing potential confusion.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed change is not
designed to address any competitive issue but rather is solely
concerned with conforming Section 703.02 (part 2) of the Listed Company
Manual to reflect the two day settlement cycle. The Exchange also
believes that the proposed rule change will serve to promote clarity
and consistency, thereby reducing burdens on the marketplace and
facilitating investor protection.
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
Because the foregoing proposed rule does not (i) significantly
affect the protection of investors or the public interest; (ii) impose
any significant burden on competition; and (iii) become operative for
30 days from the date on which it was filed, or such shorter time as
the Commission may designate if consistent with the protection of
investors and the public interest, provided that the self-regulatory
organization has given the Commission written notice of its intent to
file the proposed rule change at least five business days prior to the
date of filing of the proposed rule change or such shorter time as
designated by the Commission,\7\ the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-
4(f)(6) thereunder.\9\
---------------------------------------------------------------------------
\7\ The Exchange has fulfilled this requirement.
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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) \10\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\10\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSE-2017-49 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-NYSE-2017-49. 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 (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
[[Page 46550]]
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 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 submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSE-2017-49 and should be
submitted on or before October 26, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-21411 Filed 10-4-17; 8:45 am]
BILLING CODE 8011-01-P
