Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Regarding Investments of the REX BKCM ETF, 63919 [2018-26829]

Download as PDF Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices exempt any person, security, or transaction, or any class or classes of persons, securities, or transactions, from any provision of section 12(d)(1) if the exemption is consistent with the public interest and the protection of investors. Section 17(b) of the Act authorizes the Commission to grant an order permitting a transaction otherwise prohibited by section 17(a) if it finds that (a) the terms of the proposed transaction are fair and reasonable and do not involve overreaching on the part of any person concerned; (b) the proposed transaction is consistent with the policies of each registered investment company involved; and (c) the proposed transaction is consistent with the general purposes of the Act. Section 6(c) of the Act permits the Commission to exempt any persons or transactions from any provision of the Act if such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–26795 Filed 12–11–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84732; File No. SR– NYSEArca–2018–40] Self–Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Regarding Investments of the REX BKCM ETF Federal Register on July 3, 2018.3 On August 14, 2018, pursuant to Section 19(b)(2) of the 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 On September 24, 2018, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change.7 The Commission has received no comment letters on the proposed rule change. Section 19(b)(2) of the Act 8 provides that after initiating disapproval 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 may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on July 3, 2018. December 30, 2018, is 180 days from that date, and February 28, 2019, is 240 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 this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,9 designates February 28, 2019, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No.SR–NYSEArca–2018–40). amozie on DSK3GDR082PROD with NOTICES1 December 6, 2018. On June 26, 2018, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘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 seeking to modify certain investments of the REX BKCM ETF, a series of the Exchange Listed Funds Trust, the shares of which are currently listed and traded on the Exchange under NYSE Arca Rule 8.600–E, Managed Fund Shares. The proposed rule change was published for comment in the 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 18:39 Dec 11, 2018 Jkt 247001 3 See Securities Exchange Act Release No. 83546 (June 28, 2018), 83 FR 31214 (July 3, 2018). 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 83844 (Aug. 14, 2018), 83 FR 42178 (Aug. 20, 2018). 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 84275 (Sept. 24, 2018), 83 FR 49142 (Sept. 28, 2018). Specifically, the Commission instituted proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires among other things, that the rules of a national securities exchange be ‘‘designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade,’’ and ‘‘to protect investors and the public interest.’’ See id. at 49143 (citing 15 U.S.C. 78f(b)(5)). 8 15 U.S.C. 78s(b)(2). 9 Id. 10 17 CFR 200.30–3(a)(57). PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 63919 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–26829 Filed 12–11–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84737; File No. SR– NYSEArca–2018–74] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rules 6.62–O and 6.37A–O To Add New Order Types and Quotation Designations December 6, 2018. I. Introduction On October 5, 2018, NYSE Arca, Inc. (‘‘Exchange’’ or ‘‘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 amend NYSE Arca Rules 6.62–O (Certain Types of Orders Defined) and 6.37A–O (Market Maker Quotations) to add new order types and quotation designations. The proposed rule change was published for comment in the Federal Register on October 24, 2018.3 On December 4, 2018, the Exchange filed Amendment No. 1 to the proposed rule change.4 The Commission received no comment letters on the proposed rule change. This order approves the proposed rule change, as modified by Amendment No. 1. II. Description of the Proposal, as Modified by Amendment No. 1 A. Order Types Currently, Rule 6.62–O sets forth the order types available on the Exchange, including Liquidity Adding Orders (each an ‘‘ALO’’) and PNP (Post No Preference) Orders, both of which provide market participants control over how their orders interact with contraside liquidity. Specifically, an ALO is a 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 84451 (October 18, 2018), 83 FR 53692 (‘‘Notice’’). 4 In Amendment No. 1, the Exchange made technical corrections to cross references in the proposed rule text. Because Amendment No. 1 does not materially alter the substance of the proposed rule change or raise unique or novel regulatory issues, it is not subject to notice and comment. The amendment is available at: https://www.sec.gov/ comments/sr-nysearca-2018-74/srnyse arca201874.htm. 2 17 E:\FR\FM\12DEN1.SGM 12DEN1

Agencies

[Federal Register Volume 83, Number 238 (Wednesday, December 12, 2018)]
[Notices]
[Page 63919]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26829]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84732; File No. SR-NYSEArca-2018-40]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change 
Regarding Investments of the REX BKCM ETF

December 6, 2018.
    On June 26, 2018, NYSE Arca, Inc. (``NYSE Arca'' or ``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 
seeking to modify certain investments of the REX BKCM ETF, a series of 
the Exchange Listed Funds Trust, the shares of which are currently 
listed and traded on the Exchange under NYSE Arca Rule 8.600-E, Managed 
Fund Shares. The proposed rule change was published for comment in the 
Federal Register on July 3, 2018.\3\ On August 14, 2018, pursuant to 
Section 19(b)(2) of the 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\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 83546 (June 28, 
2018), 83 FR 31214 (July 3, 2018).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 83844 (Aug. 14, 
2018), 83 FR 42178 (Aug. 20, 2018).
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    On September 24, 2018, the Commission instituted proceedings under 
Section 19(b)(2)(B) of the Act \6\ to determine whether to approve or 
disapprove the proposed rule change.\7\ The Commission has received no 
comment letters on the proposed rule change.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 84275 (Sept. 24, 
2018), 83 FR 49142 (Sept. 28, 2018). Specifically, the Commission 
instituted proceedings to allow for additional analysis of the 
proposed rule change's consistency with Section 6(b)(5) of the Act, 
which requires among other things, that the rules of a national 
securities exchange be ``designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade,'' and ``to protect investors and the public 
interest.'' See id. at 49143 (citing 15 U.S.C. 78f(b)(5)).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \8\ provides that after initiating 
disapproval 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 may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes reasons for such determination. The proposed 
rule change was published for notice and comment in the Federal 
Register on July 3, 2018. December 30, 2018, is 180 days from that 
date, and February 28, 2019, is 240 days from that date.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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 this proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\9\ designates February 28, 2019, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2018-40).
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    \9\ Id.
    \10\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26829 Filed 12-11-18; 8:45 am]
 BILLING CODE 8011-01-P
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