Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Certain Generic Listing Standards for Managed Fund Shares Applicable to Holdings of Fixed Income Securities, 26711-26712 [2019-11933]

Download as PDF Federal Register / Vol. 84, No. 110 / Friday, June 7, 2019 / Notices Commission estimates that the internal compliance cost per respondent is approximately $298 per response. The annual internal cost of compliance for all respondents is thus approximately $402,300 (18 respondents × 75 responses × $298 per response). The filing of notices pursuant to Rule 19d–1 is mandatory for the SROs, but does not require the collection of confidential information. 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. The public may view background documentation for this information collection at the following website, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an email to: Lindsay.M.Abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: June 4, 2019. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–12038 Filed 6–6–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–86017; File No. SR– NYSEArca–2019–06] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Certain Generic Listing Standards for Managed Fund Shares Applicable to Holdings of Fixed Income Securities jbell on DSK3GLQ082PROD with NOTICES June 3, 2019. I. Introduction On February 14, 2019, 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 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 18:13 Jun 06, 2019 Jkt 247001 change to amend certain generic listing standards for Managed Fund Shares applicable to holdings of fixed income securities. The proposed rule change was published for comment in the Federal Register on March 6, 2019.3 On April 18, 2019, 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 May 15, 2019, the Exchange filed Amendment No. 1 to the proposed rule change, which amended and superseded the original filing in its entirety.6 The Commission has received no comments on the proposed rule change. This order approves the proposed rule change, as modified by Amendment No. 1. II. Description of the Proposed Rule Change, as Modified by Amendment No. 1 7 Commentary .01 to NYSE Arca Rule 8.600–E sets forth the generic listing standards for Managed Fund Shares.8 Commentary .01(b) to NYSE Arca Rule 3 See Securities Exchange Act Release No. 85220 (February 28, 2019), 84 FR 8138. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 85690, 84 FR 17204 (April 24, 2019). The Commission designated June 4, 2019 as the date by which the Commission shall approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change. 6 In Amendment No. 1, the Exchange: (1) Clarified that non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed securities in the portfolio of a series of generically-listed Managed Fund Shares would satisfy all of the generic listing standards of Commentary .01(b) to NYSE Arca Rule 8.600–E, as amended; (2) modified its argument supporting its proposed change; and (3) made other technical changes. Because Amendment No. 1 does not materially alter the substance of the proposed rule change or raise unique or novel regulatory issues, Amendment No. 1 is not subject to notice and comment. Amendment No. 1 is available at https://www.sec.gov/comments/ sr-nysearca-2019-06/srnysearca201906-5524002185227.pdf. 7 For a more detailed description of the proposal, see Amendment No. 1, supra note 6. 8 The term ‘‘Managed Fund Share’’ means a security that (a) represents an interest in a registered investment company (‘‘Investment Company’’) organized as an open-end management investment company or similar entity, that invests in a portfolio of securities selected by the Investment Company’s investment adviser consistent with the Investment Company’s investment objectives and policies; (b) is issued in a specified aggregate minimum number in return for a deposit of a specified portfolio of securities and/ or a cash amount with a value equal to the next determined net asset value; and (c) when aggregated in the same specified minimum number, may be redeemed at a holder’s request, which holder will be paid a specified portfolio of securities and/or cash with a value equal to the next determined net asset value. See NYSE Arca Rule 8.600–E(c)(1). PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 26711 8.600–E sets forth the generic listing standards applicable to fixed income securities 9 in the portfolio of a series of Managed Fund Shares. Commentary .01(b)(5) currently provides that nonagency, non-GSE, and privately-issued mortgage-related and other asset-backed securities components of a portfolio shall not account, in the aggregate, for more than 20% of the weight of the fixed income portion of the portfolio. The Exchange proposes to amend Commentary .01(b)(5) by deleting the reference to the ‘‘fixed income portion of the’’ portfolio, such that non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed securities components of a portfolio may not account, in the aggregate, for more than 20% of the weight of the whole portfolio. III. Discussion and Commission Findings After careful review, the Commission finds that the proposed rule change, as modified by Amendment No. 1, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.10 In particular, the Commission finds that the proposed rule change, as modified by Amendment No. 1, is consistent with Section 6(b)(5) of the Act,11 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, to 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. The Commission believes that the generic listing standards for Managed Fund Shares, as proposed to be amended, would continue to be designed to prevent manipulation. As noted above, the Exchange proposes to amend Commentary .01(b)(5) to NYSE Arca Rule 8.600–E to allow non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed 9 Commentary .01(b) to NYSE Arca Rule 8.600– E provides that fixed income securities are debt securities that are notes, bonds, debentures or evidence of indebtedness that include, but are not limited to, U.S. Department of Treasury securities, government-sponsored entity (‘‘GSE’’) securities, municipal securities, trust preferred securities, supranational debt and debt of a foreign country or a subdivision thereof, investment grade and high yield corporate debt, bank loans, mortgage and asset backed securities, and commercial paper. 10 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 11 15 U.S.C. 78f(b)(5). E:\FR\FM\07JNN1.SGM 07JNN1 26712 Federal Register / Vol. 84, No. 110 / Friday, June 7, 2019 / Notices jbell on DSK3GLQ082PROD with NOTICES securities to account for no more than 20% of the weight of the whole portfolio (rather than the fixed income portion of the portfolio). Therefore, the proposed rule change would allow the Exchange to generically list and trade series of Managed Fund Shares that hold more non-agency, non-GSE, and privatelyissued mortgage-related and other assetbacked securities than is currently allowed under the generic listing standards (if assets other than fixed income securities are in the portfolio).12 According to the Exchange, the proposal would allow increased portfolio diversification.13 The Exchange also states that it has in place surveillance procedures that are adequate to properly monitor trading in series of Managed Fund Shares in all trading sessions and to deter and detect violations of Exchange rules and applicable federal securities laws.14 The Commission notes that, as proposed, non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed securities must meet all the generic listing standards in Commentary .01(b) to NYSE Arca Rule 8.600–E.15 In addition, the Commission notes that it has previously approved the listing and trading of Managed Fund Shares that could hold up to 20% of their total assets in non-agency, non-GSE, and privately-issued asset-backed and mortgage-backed securities.16 12 As the Exchange notes, currently, a fund holding 100% of its assets in fixed income securities could hold 20% of its entire portfolio’s weight in non-agency, non-GSE, and privatelyissued mortgage-related and other asset-backed securities. See Amendment No. 1, supra note 6, at 5. In contrast, a fund holding 25% of its assets in fixed income securities, 25% in U.S. component stocks, and 50% in cash and cash equivalents could only hold 5% its entire portfolio’s weight in nonagency, non-GSE, and privately-issued mortgagerelated and other asset-backed securities. See id. Under the proposal, each of these funds could hold 20% of its entire portfolio’s weight in non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed securities. 13 See id., at 4–5. 14 See id., at 6. The Exchange or the Financial Industry Regulatory Authority (‘‘FINRA’’), on behalf of the Exchange, or both, would communicate as needed regarding trading in Managed Fund Shares with other markets and other entities that are members of the Intermarket Surveillance Group (‘‘ISG’’), and the Exchange or FINRA, on behalf of the Exchange, or both, could obtain trading information regarding trading in Managed Fund Shares from such markets and other entities. See id. In addition, the Exchange could obtain information regarding trading in Managed Fund Shares from markets and other entities that are members of ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement. See id. 15 See id., at 5. 16 See, e.g., Securities Exchange Act Release Nos. 83319 (May 24, 2018), 83 FR 25097 (May 31, 2018) (SR–NYSEArca–2018–15); 80946 (June 15, 2017), 82 FR 28126 (June 20, 2017) (SR–NASDAQ–2017–039); VerDate Sep<11>2014 18:13 Jun 06, 2019 Jkt 247001 IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,17 that the proposed rule change (SR–NYSEArca– 2019–06), as modified by Amendment No. 1, be, and hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–11933 Filed 6–6–19; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA 2019–0021] Notice of an Initial Enrollment Period for Our Electronic Consent Based Social Security Number Verification Service Social Security Administration. Notice. AGENCY: ACTION: The Social Security Administration (SSA) is announcing the initial enrollment period for a new electronic Consent Based Social Security Number (SSN) Verification (eCBSV) service. SSA will roll out the service to a limited number of users in June 2020, and plans on expanding the number of users within six months of the initial rollout. All interested permitted entities must apply during this initial enrollment period to be eligible to use the new eCBSV service during either the initial rollout or subsequent planned expansion. Permitted entities that do not apply during the initial enrollment period must wait until the next designated period after the planned expansion to apply for enrollment. The initial enrollment period for permitted entities will begin on July 17, 2019, and remain open until the period closes on July 31, 2019. In accord with statutory requirements, permitted entities will be required to provide payment to build the new eCBSV system. DATES: The enrollment period for permitted entities to apply for access to eCBSV will open on July 17, 2019, at 6 a.m. EST, and will close on July 31, 2019, at 6 p.m. EST. FOR FURTHER INFORMATION CONTACT: Michael Wilkins, Office of Data Exchange, Policy Publications, and International Negotiations, Social Security Administration, 6401 Security SUMMARY: 74814 (April 27, 2015), 80 FR 24986 (May 1, 2015) (SR–NYSEArca–2014–107). 17 15 U.S.C. 78s(b)(2). 18 17 CFR 200.30–3(a)(12). PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 Boulevard, Baltimore, Maryland 21235– 6401, (410) 965–9360, email eCBSV@ ssa.gov. SUPPLEMENTARY INFORMATION: Section 215 of the Economic Growth, Regulatory Relief, and Consumer Protection Act 1 (the Banking Bill) directs SSA to modify or develop a database for accepting and comparing fraud protection data 2 provided electronically by a permitted entity.3 In response to this statutory directive, SSA is creating eCBSV, a feebased Social Security number (SSN) verification service. eCBSV will allow permitted entities to verify an individual’s SSN based on the SSN holder’s signed consent.4 Based on the SSN holder’s consent, permitted entities will be able to submit via an application programming interface fraud protection data to SSA for each verification request. SSA is preparing to implement an initial rollout to a limited number of permitted entities in June 2020. In addition, SSA is planning an expanded rollout to all permitted entities that applied for the initial rollout but were not selected within the six months following the initial rollout. Permitted entities are defined in the Banking Bill,5 and must possess an employer identification number (EIN) and Dun and Bradstreet (D–U–N–S) number. Each permitted entity must submit a certification statement,6 in 1 Public Law 115–174. Banking Bill defines ‘‘Fraud Protection Data’’ to mean a combination of an individual’s name (including the first name and any family forename or surname), SSN, and date of birth (including month, day, and year). Public Law 115– 174, Title II, 215(b)(3), codified at 42 U.S.C. 405b(b)(3). 3 The Banking Bill defines a ‘‘permitted entity’’ to mean a financial institution or service provider, subsidiary, affiliate, agent, subcontractor, or assignee of a financial institution. Public Law 115– 174, Title II, 215(b)(4), codified at 42 U.S.C. 405b(b)(4). 4 Valid, signed consent must include a wet or electronic signature. Electronic signatures must meet the definition in section 106 of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. 7006). 42 U.S.C. 405b(f)(2) and SSA requirements. The written consent must clearly specify to whom the information may be disclosed, the information you want us to disclose (e.g., SSN verification) and, where applicable, during which timeframe the information may be disclosed (e.g., whenever the subject individual is receiving specific services). 20 CFR 401.100. 5 The Banking Bill defines a ‘‘permitted entity’’ to mean a financial institution or service provider, subsidiary, affiliate, agent, subcontractor, or assignee of a financial institution. Public Law 115– 174, Title II, 215(b)(4), codified at 42 U.S.C. 405b(b)(4). 6 The permitted entity must certify that (1) the entity is a permitted entity; (2) the entity is in compliance with section 215; (3) the entity is, and will remain, in compliance with its privacy and data security requirements in Title V of 15 U.S.C. 6801, et seq., with respect to the information the 2 The E:\FR\FM\07JNN1.SGM 07JNN1

Agencies

[Federal Register Volume 84, Number 110 (Friday, June 7, 2019)]
[Notices]
[Pages 26711-26712]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11933]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86017; File No. SR-NYSEArca-2019-06]


Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a 
Proposed Rule Change, as Modified by Amendment No. 1, To Amend Certain 
Generic Listing Standards for Managed Fund Shares Applicable to 
Holdings of Fixed Income Securities

June 3, 2019.

I. Introduction

    On February 14, 2019, 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 to amend certain generic listing standards for 
Managed Fund Shares applicable to holdings of fixed income securities. 
The proposed rule change was published for comment in the Federal 
Register on March 6, 2019.\3\ On April 18, 2019, 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 May 15, 2019, the Exchange 
filed Amendment No. 1 to the proposed rule change, which amended and 
superseded the original filing in its entirety.\6\ The Commission has 
received no comments on the proposed rule change. This order approves 
the proposed rule change, as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 85220 (February 28, 
2019), 84 FR 8138.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 85690, 84 FR 17204 
(April 24, 2019). The Commission designated June 4, 2019 as the date 
by which the Commission shall approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether to disapprove the proposed rule change.
    \6\ In Amendment No. 1, the Exchange: (1) Clarified that non-
agency, non-GSE, and privately-issued mortgage-related and other 
asset-backed securities in the portfolio of a series of generically-
listed Managed Fund Shares would satisfy all of the generic listing 
standards of Commentary .01(b) to NYSE Arca Rule 8.600-E, as 
amended; (2) modified its argument supporting its proposed change; 
and (3) made other technical changes. Because Amendment No. 1 does 
not materially alter the substance of the proposed rule change or 
raise unique or novel regulatory issues, Amendment No. 1 is not 
subject to notice and comment. Amendment No. 1 is available at 
https://www.sec.gov/comments/sr-nysearca-2019-06/srnysearca201906-5524002-185227.pdf.
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change, as Modified by Amendment 
No. 1 7
---------------------------------------------------------------------------

    \7\ For a more detailed description of the proposal, see 
Amendment No. 1, supra note 6.
---------------------------------------------------------------------------

    Commentary .01 to NYSE Arca Rule 8.600-E sets forth the generic 
listing standards for Managed Fund Shares.\8\ Commentary .01(b) to NYSE 
Arca Rule 8.600-E sets forth the generic listing standards applicable 
to fixed income securities \9\ in the portfolio of a series of Managed 
Fund Shares. Commentary .01(b)(5) currently provides that non-agency, 
non-GSE, and privately-issued mortgage-related and other asset-backed 
securities components of a portfolio shall not account, in the 
aggregate, for more than 20% of the weight of the fixed income portion 
of the portfolio. The Exchange proposes to amend Commentary .01(b)(5) 
by deleting the reference to the ``fixed income portion of the'' 
portfolio, such that non-agency, non-GSE, and privately-issued 
mortgage-related and other asset-backed securities components of a 
portfolio may not account, in the aggregate, for more than 20% of the 
weight of the whole portfolio.
---------------------------------------------------------------------------

    \8\ The term ``Managed Fund Share'' means a security that (a) 
represents an interest in a registered investment company 
(``Investment Company'') organized as an open-end management 
investment company or similar entity, that invests in a portfolio of 
securities selected by the Investment Company's investment adviser 
consistent with the Investment Company's investment objectives and 
policies; (b) is issued in a specified aggregate minimum number in 
return for a deposit of a specified portfolio of securities and/or a 
cash amount with a value equal to the next determined net asset 
value; and (c) when aggregated in the same specified minimum number, 
may be redeemed at a holder's request, which holder will be paid a 
specified portfolio of securities and/or cash with a value equal to 
the next determined net asset value. See NYSE Arca Rule 8.600-
E(c)(1).
    \9\ Commentary .01(b) to NYSE Arca Rule 8.600-E provides that 
fixed income securities are debt securities that are notes, bonds, 
debentures or evidence of indebtedness that include, but are not 
limited to, U.S. Department of Treasury securities, government-
sponsored entity (``GSE'') securities, municipal securities, trust 
preferred securities, supranational debt and debt of a foreign 
country or a subdivision thereof, investment grade and high yield 
corporate debt, bank loans, mortgage and asset backed securities, 
and commercial paper.
---------------------------------------------------------------------------

III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule 
change, as modified by Amendment No. 1, is consistent with the 
requirements of the Act and the rules and regulations thereunder 
applicable to a national securities exchange.\10\ In particular, the 
Commission finds that the proposed rule change, as modified by 
Amendment No. 1, is consistent with Section 6(b)(5) of the Act,\11\ 
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, 
to 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.
---------------------------------------------------------------------------

    \10\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission believes that the generic listing standards for 
Managed Fund Shares, as proposed to be amended, would continue to be 
designed to prevent manipulation. As noted above, the Exchange proposes 
to amend Commentary .01(b)(5) to NYSE Arca Rule 8.600-E to allow non-
agency, non-GSE, and privately-issued mortgage-related and other asset-
backed

[[Page 26712]]

securities to account for no more than 20% of the weight of the whole 
portfolio (rather than the fixed income portion of the portfolio). 
Therefore, the proposed rule change would allow the Exchange to 
generically list and trade series of Managed Fund Shares that hold more 
non-agency, non-GSE, and privately-issued mortgage-related and other 
asset-backed securities than is currently allowed under the generic 
listing standards (if assets other than fixed income securities are in 
the portfolio).\12\ According to the Exchange, the proposal would allow 
increased portfolio diversification.\13\ The Exchange also states that 
it has in place surveillance procedures that are adequate to properly 
monitor trading in series of Managed Fund Shares in all trading 
sessions and to deter and detect violations of Exchange rules and 
applicable federal securities laws.\14\ The Commission notes that, as 
proposed, non-agency, non-GSE, and privately-issued mortgage-related 
and other asset-backed securities must meet all the generic listing 
standards in Commentary .01(b) to NYSE Arca Rule 8.600-E.\15\ In 
addition, the Commission notes that it has previously approved the 
listing and trading of Managed Fund Shares that could hold up to 20% of 
their total assets in non-agency, non-GSE, and privately-issued asset-
backed and mortgage-backed securities.\16\
---------------------------------------------------------------------------

    \12\ As the Exchange notes, currently, a fund holding 100% of 
its assets in fixed income securities could hold 20% of its entire 
portfolio's weight in non-agency, non-GSE, and privately-issued 
mortgage-related and other asset-backed securities. See Amendment 
No. 1, supra note 6, at 5. In contrast, a fund holding 25% of its 
assets in fixed income securities, 25% in U.S. component stocks, and 
50% in cash and cash equivalents could only hold 5% its entire 
portfolio's weight in non-agency, non-GSE, and privately-issued 
mortgage-related and other asset-backed securities. See id. Under 
the proposal, each of these funds could hold 20% of its entire 
portfolio's weight in non-agency, non-GSE, and privately-issued 
mortgage-related and other asset-backed securities.
    \13\ See id., at 4-5.
    \14\ See id., at 6. The Exchange or the Financial Industry 
Regulatory Authority (``FINRA''), on behalf of the Exchange, or 
both, would communicate as needed regarding trading in Managed Fund 
Shares with other markets and other entities that are members of the 
Intermarket Surveillance Group (``ISG''), and the Exchange or FINRA, 
on behalf of the Exchange, or both, could obtain trading information 
regarding trading in Managed Fund Shares from such markets and other 
entities. See id. In addition, the Exchange could obtain information 
regarding trading in Managed Fund Shares from markets and other 
entities that are members of ISG or with which the Exchange has in 
place a comprehensive surveillance sharing agreement. See id.
    \15\ See id., at 5.
    \16\ See, e.g., Securities Exchange Act Release Nos. 83319 (May 
24, 2018), 83 FR 25097 (May 31, 2018) (SR-NYSEArca-2018-15); 80946 
(June 15, 2017), 82 FR 28126 (June 20, 2017) (SR-NASDAQ-2017-039); 
74814 (April 27, 2015), 80 FR 24986 (May 1, 2015) (SR-NYSEArca-2014-
107).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\17\ that the proposed rule change (SR-NYSEArca-2019-06), as 
modified by Amendment No. 1, be, and hereby is, approved.
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\18\
---------------------------------------------------------------------------

    \18\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-11933 Filed 6-6-19; 8:45 am]
 BILLING CODE 8011-01-P
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