Notice Establishing the Commencement and Termination Dates of the Pre-Pilot Period of the Transaction Fee Pilot for National Market System Stocks, 24563 [2019-10997]
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Federal Register / Vol. 84, No. 102 / Tuesday, May 28, 2019 / Notices
Dated: May 21, 2019.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–10981 Filed 5–24–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85906; File No. S7–05–18]
Notice Establishing the
Commencement and Termination
Dates of the Pre-Pilot Period of the
Transaction Fee Pilot for National
Market System Stocks
May 21, 2019.
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The Securities and Exchange
Commission is hereby designating,
pursuant to Rule 610T(c)(2) of
Regulation NMS, the commencement
and termination dates of the pre-Pilot
period of the Transaction Fee Pilot for
National Market System stocks
(‘‘Pilot’’).1
Rule 610T(c)(1) provides that the Pilot
shall include, among other things, a six
month pre-Pilot period.2 Rule 610T(c)(2)
further provides that the Commission
shall designate by notice the
commencement and termination dates
of, among other things, the pre-Pilot
period.3
Accordingly, the Commission is
issuing this notice to designate:
1. July 1, 2019 as the pre-Pilot
period’s commencement date, and
2. December 31, 2019 as the pre-Pilot
period’s termination date.
During the pre-Pilot period, national
securities exchanges subject to Rule
1 17 CFR 242.610T(c)(2). On December 19, 2018,
the Commission adopted Rule 610T of Regulation
NMS to conduct the Pilot. See Securities Exchange
Act Release No. 84875 (December 19, 2018), 84 FR
5202 (February 20, 2019). On February 15, 2019, the
New York Stock Exchange LLC, the NASDAQ Stock
Market, LLC, Cboe BZX Exchange, Inc., and other
affiliated entities (collectively, the ‘‘petitioners’’)
filed petitions in the United States Court of Appeals
for the District of Columbia Circuit (‘‘Court of
Appeals’’) to review the validity of Rule 610T.
Petitioners also filed with the Commission motions
to stay implementation of Rule 610T pending
resolution of their petitions for review. On March
28, 2019, the Commission issued an order granting,
in part, petitioners’ motions for a stay of Rule 610T
pending a decision by the Court of Appeals and
further order of the Commission. That order stayed
the Pilot and post-Pilot periods identified in Rule
610T(c)(1)(ii) and (iii) in their entirety, stayed the
pre-Pilot period’s data-reporting and public
disclosure requirements, see Rule 610T(d), but
provided that the remainder of Rule 610T—
including the pre-Pilot period identified in Rule
610T(c)(i)(1)—otherwise would become effective in
the ordinary course and on further notice by the
Commission. See In the Matter of Rule 610T of
Regulation NMS, Order Issuing Stay, Securities
Exchange Act Release No. 85447 (March 28, 2019)
(‘‘Partial Stay Order’’).
2 17 CFR 242.610T(c)(1).
3 17 CFR 242.610T(c)(2).
VerDate Sep<11>2014
20:49 May 24, 2019
Jkt 247001
610T are required to comply with the
data compilation requirements of Rule
610T(d) and (e).4 However, pursuant to
the Commission’s Partial Stay Order of
March 28, 2019, pending a decision by
the Court of Appeals regarding the
petitions to review Rule 610T’s validity
and further order of the Commission,
these exchanges will not be required to
transmit order routing data to the
Commission, or to publicly post
Exchange Transaction Fee Summaries.5
Following a decision by the Court of
Appeals regarding the petitions for
review, the Commission may issue
further notices in accordance with Rule
610T(b)(1) and (c)(2).6
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–10997 Filed 5–24–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85899; File No. SR–
NYSEArca–2019–36]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing of Proposed
Rule Change To List and Trade Shares
of JPMorgan Income Builder Blend
ETF Under NYSE Arca Rule 8.600–E
May 21, 2019.
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 May 10,
2019, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the 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.
4 See
Partial Stay Order, supra note 1, at 2.
Partial Stay Order at 2; Rule 610T(d), (e). As
noted in the Partial Stay Order, however, exchanges
subject to Rule 610T may transmit pre-Pilot data to
Commission staff on a voluntary basis for quality
control purposes during the pendency of the stay.
See Partial Stay Order at 1.
6 17 CFR 242.610T(b)(1) (concerning the Initial
List of Pilot Securities) and (c)(2) (concerning the
commencement and termination dates of the Pilot
and post-Pilot periods), respectively.
7 17 CFR 200.30–3(a)(84).
1 15 U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
5 See
PO 00000
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Fmt 4703
Sfmt 4703
24563
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to list and
trade shares of the following under
NYSE Arca Rule 8.600–E (‘‘Managed
Fund Shares’’): JPMorgan Income
Builder Blend ETF. The proposed
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 list and
trade shares (‘‘Shares’’) of the following
under NYSE Arca Rule 8.600–E, which
governs the listing and trading of
Managed Fund Shares 4 on the
Exchange: JPMorgan Income Builder
Blend ETF (the ‘‘Fund’’).5
4 A Managed Fund Share is a security that
represents an interest in an investment company
registered under the Investment Company Act of
1940 (15 U.S.C. 80a–1) (‘‘1940 Act’’) organized as
an open-end investment company or similar entity
that invests in a portfolio of securities selected by
its investment adviser consistent with its
investment objectives and policies. In contrast, an
open-end investment company that issues
Investment Company Units, listed and traded on
the Exchange under NYSE Arca Rule 5.2–E(j)(3),
seeks to provide investment results that correspond
generally to the price and yield performance of a
specific foreign or domestic stock index, fixed
income securities index or combination thereof.
5 The Trust is registered under the 1940 Act. On
July 31, 2018, the Trust filed with the Commission
an amendment to its registration statement on Form
N–1A under the Securities Act of 1933 (15 U.S.C.
77a) (‘‘Securities Act’’) and the 1940 Act relating to
the Fund (File Nos. 333–191837 and 811–22903)
(the ‘‘Registration Statement’’). The description of
the operation of the Trust and the Fund herein is
based, in part, on the Registration Statement. The
Trust will file an amendment to the Registration
Statement as necessary to conform to
representations in this filing. In addition, the
Commission has issued an order granting certain
exemptive relief to the Trust under the 1940 Act.
E:\FR\FM\28MYN1.SGM
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28MYN1
]]>Agencies
[Federal Register Volume 84, Number 102 (Tuesday, May 28, 2019)]
[Notices]
[Page 24563]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-10997]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85906; File No. S7-05-18]
Notice Establishing the Commencement and Termination Dates of the
Pre-Pilot Period of the Transaction Fee Pilot for National Market
System Stocks
May 21, 2019.
The Securities and Exchange Commission is hereby designating,
pursuant to Rule 610T(c)(2) of Regulation NMS, the commencement and
termination dates of the pre-Pilot period of the Transaction Fee Pilot
for National Market System stocks (``Pilot'').\1\
---------------------------------------------------------------------------
\1\ 17 CFR 242.610T(c)(2). On December 19, 2018, the Commission
adopted Rule 610T of Regulation NMS to conduct the Pilot. See
Securities Exchange Act Release No. 84875 (December 19, 2018), 84 FR
5202 (February 20, 2019). On February 15, 2019, the New York Stock
Exchange LLC, the NASDAQ Stock Market, LLC, Cboe BZX Exchange, Inc.,
and other affiliated entities (collectively, the ``petitioners'')
filed petitions in the United States Court of Appeals for the
District of Columbia Circuit (``Court of Appeals'') to review the
validity of Rule 610T. Petitioners also filed with the Commission
motions to stay implementation of Rule 610T pending resolution of
their petitions for review. On March 28, 2019, the Commission issued
an order granting, in part, petitioners' motions for a stay of Rule
610T pending a decision by the Court of Appeals and further order of
the Commission. That order stayed the Pilot and post-Pilot periods
identified in Rule 610T(c)(1)(ii) and (iii) in their entirety,
stayed the pre-Pilot period's data-reporting and public disclosure
requirements, see Rule 610T(d), but provided that the remainder of
Rule 610T--including the pre-Pilot period identified in Rule
610T(c)(i)(1)--otherwise would become effective in the ordinary
course and on further notice by the Commission. See In the Matter of
Rule 610T of Regulation NMS, Order Issuing Stay, Securities Exchange
Act Release No. 85447 (March 28, 2019) (``Partial Stay Order'').
---------------------------------------------------------------------------
Rule 610T(c)(1) provides that the Pilot shall include, among other
things, a six month pre-Pilot period.\2\ Rule 610T(c)(2) further
provides that the Commission shall designate by notice the commencement
and termination dates of, among other things, the pre-Pilot period.\3\
---------------------------------------------------------------------------
\2\ 17 CFR 242.610T(c)(1).
\3\ 17 CFR 242.610T(c)(2).
---------------------------------------------------------------------------
Accordingly, the Commission is issuing this notice to designate:
1. July 1, 2019 as the pre-Pilot period's commencement date, and
2. December 31, 2019 as the pre-Pilot period's termination date.
During the pre-Pilot period, national securities exchanges subject
to Rule 610T are required to comply with the data compilation
requirements of Rule 610T(d) and (e).\4\ However, pursuant to the
Commission's Partial Stay Order of March 28, 2019, pending a decision
by the Court of Appeals regarding the petitions to review Rule 610T's
validity and further order of the Commission, these exchanges will not
be required to transmit order routing data to the Commission, or to
publicly post Exchange Transaction Fee Summaries.\5\
---------------------------------------------------------------------------
\4\ See Partial Stay Order, supra note 1, at 2.
\5\ See Partial Stay Order at 2; Rule 610T(d), (e). As noted in
the Partial Stay Order, however, exchanges subject to Rule 610T may
transmit pre-Pilot data to Commission staff on a voluntary basis for
quality control purposes during the pendency of the stay. See
Partial Stay Order at 1.
---------------------------------------------------------------------------
Following a decision by the Court of Appeals regarding the
petitions for review, the Commission may issue further notices in
accordance with Rule 610T(b)(1) and (c)(2).\6\
---------------------------------------------------------------------------
\6\ 17 CFR 242.610T(b)(1) (concerning the Initial List of Pilot
Securities) and (c)(2) (concerning the commencement and termination
dates of the Pilot and post-Pilot periods), respectively.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(84).
---------------------------------------------------------------------------
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-10997 Filed 5-24-19; 8:45 am]
BILLING CODE 8011-01-P
