Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change Relating to Listing and Trading of the Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares and Direxion Daily Bitcoin 2X Bear Shares Under NYSE Arca Rule 8.200-E, 9768-9769 [2018-04556]
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9768
Federal Register / Vol. 83, No. 45 / Wednesday, March 7, 2018 / Notices
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Exchange Act,27
that the proposed rule change (SR–
NYSE–2017–42), be, and hereby is,
approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.28
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–04557 Filed 3–6–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
from: U.S. Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
daltland on DSKBBV9HB2PROD with NOTICES
Extension: Rule 12f–3, SEC File No. 270–141,
OMB Control No. 3235–0249.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 12f–3 (17 CFR
240.12f–3), under the Securities
Exchange Act of 1934 (‘‘Act’’) (15 U.S.C.
78a et seq.). The Commission plans to
submit this existing collection of
information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 12f–3 (‘‘Rule’’), which was
originally adopted in 1955 pursuant to
Sections 12(f) and 23(a) of the Act, and
as further modified in 1995, sets forth
the requirements to submit an
application to the Commission for
termination or suspension of unlisted
trading privileges in a security, as
contemplated under Section 12(f)(4) of
the Act. In addition to requiring that one
copy of the application be filed with the
Commission, the Rule requires that the
application contain specified
information. Under the Rule, an
application to suspend or terminate
unlisted trading privileges must
provide, among other things, the name
of the applicant; a brief statement of the
applicant’s interest in the question of
termination or suspension of such
unlisted trading privileges; the title of
the security; the name of the issuer;
certain information regarding the size of
27 15
28 17
U.S.C. 78f(b)(2).
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:30 Mar 06, 2018
Jkt 244001
the class of security, the public trading
volume and price history in the security
for specified time periods on the subject
exchange and a statement indicating
that the applicant has provided a copy
of such application to the exchange
from which the suspension or
termination of unlisted trading
privileges are sought, and to any other
exchange on which the security is listed
or admitted to unlisted trading
privileges.
The information required to be
included in applications submitted
pursuant to Rule 12f–3, is intended to
provide the Commission with sufficient
information to make the necessary
findings under the Act to terminate or
suspend by order the unlisted trading
privileges granted a security on a
national securities exchange. Without
the Rule, the Commission would be
unable to fulfill these statutory
responsibilities.
The burden of complying with Rule
12f–3 arises when a potential
respondent, having a demonstrable bona
fide interest in the question of
termination or suspension of the
unlisted trading privileges of a security,
determines to seek such termination or
suspension. The staff estimates that
each such application to terminate or
suspend unlisted trading privileges
requires approximately one hour to
complete. Thus each potential
respondent would incur on average one
burden hour in complying with the
Rule.
The Commission staff estimates that
there could be as many as 18 responses
annually for an aggregate burden for all
respondents of 18 hours. Each
respondent’s related internal cost of
compliance for Rule 12f–3 would be
$221.00, or, the cost of one hour of
professional work of a paralegal needed
to complete the application. The total
annual cost of compliance for all
potential respondents, therefore, is
$3,978.00 (18 responses × $221.00/
response).
Compliance with the application
requirements of Rule 12f–3 is
mandatory, though the filing of such
applications is undertaken voluntarily.
Rule 12f–3 does not have a record
retention requirement per se. However,
responses made pursuant to Rule 12f–3
are subject to the recordkeeping
requirements of Rules 17a–3 and 17a–4
of the Act. Information received in
response to Rule 12f–3 shall not be kept
confidential; the information collected
is public information.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
PO 00000
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Fmt 4703
Sfmt 4703
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: March 1, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–04573 Filed 3–6–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82795; File No. SR–
NYSEArca–2018–02]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of a
Longer Period for Commission Action
on a Proposed Rule Change Relating
to Listing and Trading of the Direxion
Daily Bitcoin Bear 1X Shares, Direxion
Daily Bitcoin 1.25X Bull Shares,
Direxion Daily Bitcoin 1.5X Bull
Shares, Direxion Daily Bitcoin 2X Bull
Shares and Direxion Daily Bitcoin 2X
Bear Shares Under NYSE Arca Rule
8.200–E
March 1, 2018.
On January 4, 2018, NYSE Arca, Inc.
(‘‘NYSE Arca’’) 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 the shares of the Direxion
Daily Bitcoin Bear 1X Shares, Direxion
Daily Bitcoin 1.25X Bull Shares,
Direxion Daily Bitcoin 1.5X Bull Shares,
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\07MRN1.SGM
07MRN1
Federal Register / Vol. 83, No. 45 / Wednesday, March 7, 2018 / Notices
Direxion Daily Bitcoin 2X Bull Shares
and Direxion Daily Bitcoin 2X Bear
Shares Under NYSE Arca Rule 8.200–E.
The proposed rule change was
published for comment in the Federal
Register on January 24, 2018.3 The
Commission has 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 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 April 24, 2018, 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–2018–02).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–04556 Filed 3–6–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82802; File No. SR–
NYSEAMER–2018–05]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing of
Proposed Rule Change for New Rule
971.2NY for An Electronic Price
Improvement Auction for Complex
Orders
daltland on DSKBBV9HB2PROD with NOTICES
March 2, 2018.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
3 See Securities Exchange Act Release No. 82532
(Jan. 18, 2018), 83 FR 3380 (Jan. 24, 2018).
4 15 U.S.C. 78s(b)(2).
5 Id.
6 17 CFR 200.30–3(a)(31).
1 15 U.S.C.78s(b)(1).
VerDate Sep<11>2014
17:30 Mar 06, 2018
Jkt 244001
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on February
15, 2018, NYSE American LLC (the
‘‘Exchange’’ or ‘‘NYSE American’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory 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 a new Rule
971.2NY for an electronic price
improvement auction for complex
orders. The proposed rule change is
available on the Exchange’s website 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.
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 expand its
electronic crossing mechanism offering,
which is the Customer Best Execution or
‘‘CUBE’’ Auction described in Rule
971.1NY, to make it available for
complex orders. To effect this change,
the Exchange proposes new Rule
971.2NY (Complex Electronic Cross
Transactions) to establish the CUBE for
complex orders (‘‘Complex CUBE
Auction’’ or ‘‘Auction’’). The proposed
Complex CUBE Auction would operate
in a manner substantially similar to the
CUBE Auction for single-leg orders (the
‘‘Single-Leg CUBE’’). Accordingly,
proposed Rule 971.2NY is based on
Rule 971.1NY with differences as
necessary to account for different
2 15
3 17
PO 00000
U.S.C. 78a.
CFR 240.19b–4.
Frm 00046
Fmt 4703
Sfmt 4703
9769
processing of and priority rules for
Complex Orders.4 In addition to being
substantially similar to the Single-Leg
CUBE (discussed below), the proposed
Complex CUBE Auction would operate
in a manner consistent with electronic
price improvement auctions for
complex auctions available on other
options markets.5
As proposed, the Complex CUBE
Auction (like the Single-Leg CUBE)
would be available to ATP Holders both
on and off the Trading Floor of the
Exchange, subject to the requirements of
Section 11(a) of the Act (discussed
below). In addition to the Complex
CUBE Auction, Floor-based ATP
Holders may continue to use existing
Floor-based crossing rules.
The Exchange also proposes to amend
Rule 900.2NY(7)(a), make minor
updates to the Single-Leg CUBE, and
amend other Exchange rules (as noted
herein) for purposes of clarity,
transparency and internal consistency.
Single-Leg CUBE 6
The Single-Leg CUBE provides a
mechanism through which an ATP
Holder may seek to guarantee the
execution of a limit order it represents
as agent on behalf of a public customer,
broker dealer, or any other entity (the
‘‘CUBE Order’’). The ATP Holder that
4 Rule 980NY sets forth how the Exchange
conducts trading of Electronic Complex Orders
(referred to herein simply as Complex Orders). Per
Rule 980NY, ‘‘an ‘Electronic Complex Order’ means
any Complex Order as defined in Rule 900.3NY(e)
that is entered into the System.’’ Rule 900.3NY
defines Complex Order as ‘‘any order involving the
simultaneous purchase and/or sale of two or more
different option series in the same underlying
security, for the same account, in a ratio that is
equal to or greater than one-to-three (.333) and less
than or equal to three-to-one (3.00) and for the
purpose of executing a particular investment
strategy.’’
5 See Chicago Board Options Exchange, Inc.
(‘‘CBOE’’) Rule 6.74A—Automated Improvement
Mechanism (‘‘AIM’’); Nasdaq PHLX, LLC (‘‘PHLX’’)
Rule 1087—Price Improvement XL (‘‘PIXL’’); BOX
Options Exchange LLC (‘‘BOX’’) Rule 7245—
Complex Order Price Improvement Period
(‘‘COPIP’’); Nasdaq ISE, LLC (‘‘ISE’’) Rule 723—
Price Improvement Mechanism (‘‘PIM’’); Miami
International Securities Exchange, LLC (‘‘MIAX’’)
Rule 515A, Interpretation and Policies .12—Price
Improvement Mechanism (‘‘PRIME’’).
6 See Rule 971.1NY. See Securities Exchange Act
Release No. 72025 (April 25, 2014), 79 FR 24779
(May 1, 2017 [sic]) (SR–NYSEMKT–2014–17) (order
approving CUBE Auction for single-leg orders)
(‘‘Single-Leg CUBE Approval Order’’). To make
clear that Rule 971.1NY relates to the CUBE
Auction for single leg orders, the Exchange
proposes to re-title this rule, and modify crossreferences to this rule, to ‘‘Single-Leg Electronic
Cross Transactions.’’ See proposed Rules 971.1NY;
900.2NY(18A) (regarding the definition of a
Professional Customer); 935NY (regarding order
exposure requirements). The Exchange also
proposes to modify Rules 900.2NY(18A) to exclude
Professional Customers from the definition of
‘‘Customer’’ for purposes of this proposed rule. See
proposed Rule 900.2NY(18A).
E:\FR\FM\07MRN1.SGM
07MRN1
]]>Agencies
[Federal Register Volume 83, Number 45 (Wednesday, March 7, 2018)]
[Notices]
[Pages 9768-9769]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04556]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82795; File No. SR-NYSEArca-2018-02]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of a Longer Period for Commission Action on a Proposed Rule
Change Relating to Listing and Trading of the Direxion Daily Bitcoin
Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion
Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares
and Direxion Daily Bitcoin 2X Bear Shares Under NYSE Arca Rule 8.200-E
March 1, 2018.
On January 4, 2018, NYSE Arca, Inc. (``NYSE Arca'') 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
the shares of the Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily
Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares,
[[Page 9769]]
Direxion Daily Bitcoin 2X Bull Shares and Direxion Daily Bitcoin 2X
Bear Shares Under NYSE Arca Rule 8.200-E. The proposed rule change was
published for comment in the Federal Register on January 24, 2018.\3\
The Commission has 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. 82532 (Jan. 18,
2018), 83 FR 3380 (Jan. 24, 2018).
---------------------------------------------------------------------------
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
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.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\5\ designates April 24, 2018, 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-2018-02).
---------------------------------------------------------------------------
\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. 2018-04556 Filed 3-6-18; 8:45 am]
BILLING CODE 8011-01-P
