Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Permit the Listing and Trading of Managed Portfolio Shares; and To List and Trade Shares of the Following Under Proposed Rule 14.11(k): ClearBridge Appreciation ETF, ClearBridge Large Cap ETF, ClearBridge MidCap Growth ETF, ClearBridge Select ETF, and ClearBridge All Cap Value ETF, 60073 [2017-27148]
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Federal Register / Vol. 82, No. 241 / Monday, December 18, 2017 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82301; File No. SR–
BatsBZX–2017–30]
Self-Regulatory Organizations; Bats
BZX Exchange, Inc.; Notice of
Designation of a Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
To Permit the Listing and Trading of
Managed Portfolio Shares; and To List
and Trade Shares of the Following
Under Proposed Rule 14.11(k):
ClearBridge Appreciation ETF,
ClearBridge Large Cap ETF,
ClearBridge MidCap Growth ETF,
ClearBridge Select ETF, and
ClearBridge All Cap Value ETF
December 12, 2017.
On June 1, 2017, Bats BZX Exchange,
Inc. (‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Exchange Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to: (1) Adopt Rule 14.11(k)
(Managed Portfolio Shares); and (2) list
and trade shares of the ClearBridge
Appreciation ETF, ClearBridge Large
Cap ETF, ClearBridge MidCap Growth
ETF, ClearBridge Select ETF, and
ClearBridge All Cap Value ETF under
proposed Rule 14.11(k). The proposed
rule change was published for comment
in the Federal Register on June 19,
2017.3 On July 28, 2017, pursuant to
Section 19(b)(2) of the Exchange Act,4
the Commission designated a longer
period within which to approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether to
disapprove the proposed rule change.5
The Commission initially received four
comment letters on the proposed rule
change.6 On September 13, 2017, the
Commission instituted proceedings
under Section 19(b)(2)(B) of the
Exchange Act 7 to determine whether to
approve or disapprove the proposed
rule change.8 The Commission
subsequently received one comment
letter on the proposed rule change.9
Section 19(b)(2) of the Act 10 provides
that, after initiating proceedings, the
Commission shall issue an order
approving or disapproving the proposed
rule change not later than 180 days after
the date of publication of notice of filing
of the proposed rule change. The
Commission, however, may extend the
period for issuing an order approving or
disapproving the proposed rule change
by not more than 60 days if the
Commission determines that a longer
period is appropriate and publishes the
reasons for such determination. The
proposed rule change was published for
notice and comment in the Federal
Register on June 19, 2017.11 December
16, 2017 is 180 days from that date, and
February 14, 2018 is an additional 60
days from that date.
The Commission finds it appropriate
to designate a longer period within
which to issue an order approving or
disapproving the proposed rule change
so that it has sufficient time to consider
the proposed rule change and the issues
raised in the comment letters that have
been submitted in connection therewith.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,12
designates February 14, 2018 as the date
by which the Commission shall either
approve or disapprove the proposed
rule change (File No. SR–BatsBZX–
2017–30).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017–27148 Filed 12–15–17; 8:45 am]
daltland on DSKBBV9HB2PROD with NOTICES
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 80911
(June 13, 2017), 82 FR 27925.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 81247,
82 FR 36031 (August 2, 2017). The Commission
designated September 17, 2017, as the date by
which it shall approve or disapprove, or institute
proceedings to determine whether to disapprove,
the proposed rule change.
6 See Letter from Gary L. Gastineau, President,
ETF Consultants.com, Inc., to Brent J. Fields,
Secretary, Commission, dated July 7, 2017; Letter
from Todd J. Broms, Chief Executive Officer, Broms
& Company LLC, to Brent J. Fields, Secretary,
Commission, dated July 10, 2017; Letter from James
J. Angel, Associate Professor of Finance,
Georgetown University, McDonough School of
Business, to the Commission, dated July 10, 2017;
and Letter from Terence W. Norman, Founder, Blue
VerDate Sep<11>2014
17:53 Dec 15, 2017
Jkt 244001
BILLING CODE 8011–01–P
Tractor Group, LLC, to Brent J. Fields, Secretary,
Commission, dated August 1, 2017. The comment
letters are available on the Commission’s website at:
https://www.sec.gov/comments/sr-batsbzx-2017-30/
batsbzx201730.htm.
7 15 U.S.C. 78s(b)(2)(B).
8 See Securities Exchange Act Release No. 81599,
82 FR 43621 (September 18, 2017).
9 See Letter from Terence W. Norman, Founder,
Blue Tractor Group, LLC, to Brent J. Fields,
Secretary, Commission, dated December 5, 2017.
The comment letter is available on the
Commission’s website at: https://www.sec.gov/
comments/sr-batsbzx-2017-30/batsbzx201730.htm.
10 15 U.S.C. 78s(b)(2).
11 See supra note 3 and accompanying text.
12 15 U.S.C. 78s(b)(2).
13 17 CFR 200.30–3(a)(57).
PO 00000
Frm 00074
Fmt 4703
Sfmt 4703
60073
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82303; File No. SRCboeBYX–2017–002]
Self-Regulatory Organizations; Cboe
BYX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Amend
Exchange Rule 11.9, Primary Pegged
Order
December 12, 2017.
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 November
29, 2017, Cboe BYX Exchange, Inc.
(‘‘BYX’’ or the ‘‘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
Exchange has designated this proposal
as a ‘‘non-controversial’’ proposed rule
change pursuant to Section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(6)
thereunder,4 which renders it 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 paragraph (c)(8)(A) of Exchange
Rule 11.9, Primary Pegged Order, to
restrict the Time-In-Force (‘‘TIF’’)
instruction that a displayed Primary
Pegged Order that includes a Primary
Offset Amount (defined below) may
have to Regular Hours Only (‘‘RHO’’) 5
or Day 6 if entered during Regular
Trading Hours.7
The text of the proposed rule change
is available at the Exchange’s website at
www.markets.cboe.com, at the principal
office of the Exchange, and at the
Commission’s Public Reference Room.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
5 See Exchange Rule 11.9(b)(7) (defining a TIF of
RHO as a limit or market order that is designated
for execution only during Regular Trading Hours).
6 See Exchange Rule 11.9(b)(2) (defining a TIF of
Day as a limit order to buy or sell which, if not
executed, expires at the end of Regular Trading
Hours).
7 Regular Trading Hours is defined as the time
between 9:30 a.m. and 4:00 p.m. Eastern Time. See
Exchange Rule 1.5(w).
2 17
E:\FR\FM\18DEN1.SGM
18DEN1
Agencies
[Federal Register Volume 82, Number 241 (Monday, December 18, 2017)]
[Notices]
[Page 60073]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-27148]
[[Page 60073]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82301; File No. SR-BatsBZX-2017-30]
Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change To
Permit the Listing and Trading of Managed Portfolio Shares; and To List
and Trade Shares of the Following Under Proposed Rule 14.11(k):
ClearBridge Appreciation ETF, ClearBridge Large Cap ETF, ClearBridge
MidCap Growth ETF, ClearBridge Select ETF, and ClearBridge All Cap
Value ETF
December 12, 2017.
On June 1, 2017, Bats BZX Exchange, Inc. (``Exchange'') filed with
the Securities and Exchange Commission (``Commission''), pursuant to
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Exchange
Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to: (1)
Adopt Rule 14.11(k) (Managed Portfolio Shares); and (2) list and trade
shares of the ClearBridge Appreciation ETF, ClearBridge Large Cap ETF,
ClearBridge MidCap Growth ETF, ClearBridge Select ETF, and ClearBridge
All Cap Value ETF under proposed Rule 14.11(k). The proposed rule
change was published for comment in the Federal Register on June 19,
2017.\3\ On July 28, 2017, pursuant to Section 19(b)(2) of the Exchange
Act,\4\ the Commission designated a longer period within which to
approve the proposed rule change, disapprove the proposed rule change,
or institute proceedings to determine whether to disapprove the
proposed rule change.\5\ The Commission initially received four comment
letters on the proposed rule change.\6\ On September 13, 2017, the
Commission instituted proceedings under Section 19(b)(2)(B) of the
Exchange Act \7\ to determine whether to approve or disapprove the
proposed rule change.\8\ The Commission subsequently received one
comment letter on the proposed rule change.\9\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 80911 (June 13,
2017), 82 FR 27925.
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 81247, 82 FR 36031
(August 2, 2017). The Commission designated September 17, 2017, as
the date by which it shall approve or disapprove, or institute
proceedings to determine whether to disapprove, the proposed rule
change.
\6\ See Letter from Gary L. Gastineau, President, ETF
Consultants.com, Inc., to Brent J. Fields, Secretary, Commission,
dated July 7, 2017; Letter from Todd J. Broms, Chief Executive
Officer, Broms & Company LLC, to Brent J. Fields, Secretary,
Commission, dated July 10, 2017; Letter from James J. Angel,
Associate Professor of Finance, Georgetown University, McDonough
School of Business, to the Commission, dated July 10, 2017; and
Letter from Terence W. Norman, Founder, Blue Tractor Group, LLC, to
Brent J. Fields, Secretary, Commission, dated August 1, 2017. The
comment letters are available on the Commission's website at:
https://www.sec.gov/comments/sr-batsbzx-2017-30/batsbzx201730.htm.
\7\ 15 U.S.C. 78s(b)(2)(B).
\8\ See Securities Exchange Act Release No. 81599, 82 FR 43621
(September 18, 2017).
\9\ See Letter from Terence W. Norman, Founder, Blue Tractor
Group, LLC, to Brent J. Fields, Secretary, Commission, dated
December 5, 2017. The comment letter is available on the
Commission's website at: https://www.sec.gov/comments/sr-batsbzx-2017-30/batsbzx201730.htm.
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \10\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change not later than 180 days after the
date of publication of notice of filing of the proposed rule change.
The Commission, however, may extend the period for issuing an order
approving or disapproving the proposed rule change by not more than 60
days if the Commission determines that a longer period is appropriate
and publishes the reasons for such determination. The proposed rule
change was published for notice and comment in the Federal Register on
June 19, 2017.\11\ December 16, 2017 is 180 days from that date, and
February 14, 2018 is an additional 60 days from that date.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(2).
\11\ See supra note 3 and accompanying text.
---------------------------------------------------------------------------
The Commission finds it appropriate to designate a longer period
within which to issue an order approving or disapproving the proposed
rule change so that it has sufficient time to consider the proposed
rule change and the issues raised in the comment letters that have been
submitted in connection therewith. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,\12\ designates February 14,
2018 as the date by which the Commission shall either approve or
disapprove the proposed rule change (File No. SR-BatsBZX-2017-30).
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(2).
\13\ 17 CFR 200.30-3(a)(57).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017-27148 Filed 12-15-17; 8:45 am]
BILLING CODE 8011-01-P