Self-Regulatory Organizations; NYSE Arca, Inc.; Order Scheduling Filing of Statements on Review for an Order of Disapproval of Proposed Rule Change To List and Trade the Shares of Bitwise Bitcoin ETF Trust, 63699-63700 [2019-24874]
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Federal Register / Vol. 84, No. 222 / Monday, November 18, 2019 / Notices
SECURITIES AND EXCHANGE
COMMISSION
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87505; File No. SR–CBOE–
2019–040]
Self-Regulatory Organizations; Cboe
Exchange, Inc.; Notice of Withdrawal
of Proposed Rule Change To Amend
the Cboe Exchange, Inc. Fee Schedule
To Modify the Options Regulatory Fee
November 12, 2019.
On August 1, 2019, Cboe Exchange,
Inc. (‘‘Cboe’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘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 (File No. SR–
CBOE–2019–040) to modify the amount
of its Options Regulatory Fee (‘‘ORF’’).3
The proposed rule change was
immediately effective upon filing with
the Commission pursuant to Section
19(b)(3)(A) of the Act.4 The proposed
rule change was published for comment
in the Federal Register on August 14,
2019.5 The Commission received one
comment letter, which criticized the
proposal.6 On September 30, 2019,
pursuant to Section 19(b)(3)(C) of the
Act, the Commission temporarily
suspended the proposed rule change
and instituted proceedings under
Section 19(b)(2)(B) of the Act to
determine whether to approve or
disapprove the proposed rule change.7
On November 7, 2019, the Exchange
withdrew the proposed rule change
(SR–CBOE–2019–040).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–24868 Filed 11–15–19; 8:45 am]
BILLING CODE 8011–01–P
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 86604
(August 8, 2019), 84 FR 40445 (August 14, 2019)
(‘‘Notice’’).
4 15 U.S.C. 78s(b)(3)(A). A proposed rule change
may take effect upon filing with the Commission if
it is designated by the exchange as ‘‘establishing or
changing a due, fee, or other charge imposed by the
self-regulatory organization on any person, whether
or not the person is a member of the self-regulatory
organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii).
5 See Notice, supra note 3.
6 See Letter to Vanessa Countryman, Secretary,
Commission, from Ellen Greene, Managing Director,
Securities Industry and Financial Markets
Association (‘‘SIFMA’’), dated August 27, 2019
(‘‘SIFMA Letter’’).
7 See Securities Exchange Act Release No. 87170,
84 FR 53213 (October 4, 2019).
8 17 CFR 200.30–3(a)(12).
2 17
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Jkt 250001
[Release No. 34–87510; File No. SR–
CboeBZX–2019–044]
Self-Regulatory Organizations;
CboeBZX 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 Allow the JPMorgan Core Plus
Bond ETF of the J.P. Morgan
Exchange-Traded Fund Trust To Hold
Certain Instruments in a Manner That
May Not Comply With Rule 14.11(i),
Managed Fund Shares
November 12, 2019.
On May 15, 2019, Cboe BZX
Exchange, Inc. (‘‘BZX’’) 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
allow the JPMorgan Core Plus Bond ETF
of the J.P. Morgan Exchange-Traded
Fund Trust to hold certain instruments
in a manner that may not comply with
BZX Rule 14.11(i), Managed Fund
Shares. The proposed rule change was
published for comment in the Federal
Register on June 3, 2019.3 On July 10,
2019, pursuant to Section 19(b)(2) of the
Act,4 the Commission extended the time
period within which to approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether to
approve or disapprove the proposed
rule change.5 On August 22, 2019, the
Commission instituted proceedings
pursuant to 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
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 85948
(May 28, 2019), 84 FR 25579.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 86348,
84 FR 34040 (July 16, 2019).
6 15 U.S.C. 78s(b)(2)(B).
7 See Securities Exchange Act Release No. 86737,
84 FR 45184 (August 28, 2019).
8 15 U.S.C. 78s(b)(2).
2 17
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63699
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 the reasons for such
determination. The proposed rule
change was published for notice and
comment in the Federal Register on
June 3, 2019. November 30, 2019 is 180
days from that date, and January 29,
2020 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
the proposed rule change. Accordingly,
the Commission, pursuant to Section
19(b)(2) of the Act,9 designates January
29, 2020 as the date by which the
Commission shall either approve or
disapprove the proposed rule change
(File No. SR–CboeBZX–2019–044).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–24871 Filed 11–15–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87503; File No. SR–
NYSEArca–2019–01]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Order Scheduling Filing of
Statements on Review for an Order of
Disapproval of Proposed Rule Change
To List and Trade the Shares of
Bitwise Bitcoin ETF Trust
November 12, 2019.
On January 28, 2019, 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 (‘‘Exchange Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to list and trade shares of the
Bitwise Bitcoin ETF Trust under NYSE
Arca Rule 8.201–E. The proposed rule
change was published for comment in
the Federal Register on February 15,
2019.3
On March 29, 2019, pursuant to
Section 19(b)(2) of the Exchange Act,4
9 Id.
10 17
CFR 200.30–3(a)(57).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 85093
(Feb. 11, 2019), 84 FR 4589 (Feb. 15, 2019).
4 15 U.S.C. 78s(b)(2).
1 15
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Federal Register / Vol. 84, No. 222 / Monday, November 18, 2019 / Notices
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
approve or disapprove the proposed
rule change.5 On May 7, 2019, NYSE
Arca filed Amendment No. 1 to the
proposed rule change, which replaced
and superseded the proposed rule
change as originally filed, and on May
14, 2019, the Commission published the
proposed rule change, as modified by
Amendment No. 1, for notice and
comment and instituted proceedings
under Section 19(b)(2)(B) of the
Exchange Act 6 to determine whether to
approve or disapprove the proposed
rule change, as modified by Amendment
No. 1.7 On August 12, 2019, the
Commission extended the period for
consideration of the proposed rule
change, as modified by Amendment No.
1, to October 13, 2019.8
On October 9, 2019, the Division of
Trading and Markets, pursuant to
delegated authority,9 issued an order
disapproving the proposed rule change,
as modified by Amendment No. 1.10 On
October 15, 2019, the Secretary of the
Commission notified NYSE Arca that,
pursuant to Commission Rule of
Practice 431,11 the Commission would
review the Division’s action pursuant to
delegated authority and that the
Division’s action pursuant to delegated
authority had been automatically
stayed.12
Accordingly, it is ordered, pursuant to
Commission Rule of Practice 431, that
by December 18, 2019, any party or
other person may file a statement in
support of, or in opposition to, the
action made pursuant to delegated
authority.
It is further ordered that the order
disapproving proposed rule change SR–
NYSEArca–2019–01 shall remain in
effect pending the Commission’s review.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[Release No. 34–87508; File No. SR–
CboeEDGX–2019–051]
[Release No. 34–87500; File No. SR–
CboeBZX–2019–041]
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of
Withdrawal of Proposed Rule Change
To Amend the Cboe EDGX Exchange,
Inc. Fee Schedule To Modify the
Options Regulatory Fee
Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of
Designation of Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
To Amend the Fee Schedule Assessed
on Members To Establish a Monthly
Trading Rights Fee
November 12, 2019.
On August 1, 2019, Cboe EDGX
Exchange, Inc. (‘‘EDGX’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (the ‘‘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 (File No. SR–
CboeEDGX–2019–051) to modify the
amount of its Options Regulatory Fee
(‘‘ORF’’).3 The proposed rule change
was immediately effective upon filing
with the Commission pursuant to
Section 19(b)(3)(A) of the Act.4 The
proposed rule change was published for
comment in the Federal Register on
August 14, 2019.5 The Commission
received one comment letter on the
proposal.6 On September 30, 2019,
pursuant to Section 19(b)(3)(C) of the
Act, the Commission temporarily
suspended the proposed rule change
and instituted proceedings under
Section 19(b)(2)(B) of the Act to
determine whether to approve or
disapprove the proposed rule change.7
On November 7, 2019, the Exchange
withdrew the proposed rule change
(SR–CboeEDGX–2019–051).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–24870 Filed 11–15–19; 8:45 am]
1 15
5 See Securities Exchange Act Release No. 85461
(Mar. 29, 2019), 84 FR 13339 (Apr. 4, 2019).
6 15 U.S.C. 78s(b)(2)(B).
7 See Securities Exchange Act Release No. 85854
(May 14, 2019), 84 FR 23125 (May 21, 2019).
8 See Securities Exchange Act Release No. 86629
(Aug. 12, 2019), 84 FR 42036 (Aug. 16, 2019).
9 17 CFR 200.30–3(a)(12).
10 See Securities Exchange Act Release No. 87267
(Oct. 9, 2019), 84 FR 55382 (Oct. 16, 2019).
11 See 17 CFR 201.431.
12 See Letter from Secretary of the Commission to
Michael Cavalier, Counsel, and David De Gregorio
Senior Counsel, Intercontinental Exchange/NYSE
(Oct. 15, 2019), available at https://www.sec.gov/
rules/sro/nysearca/2019/34-87267-letter.pdf.
Jkt 250001
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 86611
(August 8, 2019), 84 FR 40447 (August 14, 2019)
(‘‘Notice’’).
4 15 U.S.C. 78s(b)(3)(A). A proposed rule change
may take effect upon filing with the Commission if
it is designated by the exchange as ‘‘establishing or
changing a due, fee, or other charge imposed by the
self-regulatory organization on any person, whether
or not the person is a member of the self-regulatory
organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii).
5 See Notice, supra note 3.
6 See Letter to Vanessa Countryman, Secretary,
Commission, from Ellen Greene, Managing Director,
Securities Industry and Financial Markets
Association (‘‘SIFMA’’), dated August 27, 2019
(‘‘SIFMA Letter’’).
7 See Securities Exchange Act Release No. 87172,
84 FR 53192 (October 4, 2019).
8 17 CFR 200.30–3(a)(12).
2 17
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SECURITIES AND EXCHANGE
COMMISSION
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[FR Doc. 2019–24874 Filed 11–15–19; 8:45 am]
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November 12, 2019.
On May 2, 2019, Cboe BZX Exchange,
Inc. (‘‘BZX’’ or the ‘‘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 the BZX fee schedule
to establish a monthly Trading Rights
Fee to be assessed on Members. The
proposed rule change was immediately
effective upon filing with the
Commission pursuant to Section
19(b)(3)(A) of the Act.3 The proposed
rule change was published for comment
in the Federal Register on May 16,
2019.4 On June 28, 2019, the
Commission temporarily suspended the
proposed rule change and instituted
proceedings to determine whether to
approve or disapprove the proposed
rule change.5 In response to the OIP, the
Commission received three comment
letters, including a response letter from
the Exchange.6
Section 19(b)(2) of the Act 7 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 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 the reasons for such
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 See Securities Exchange Act Release No. 85840
(May 10, 2019), 84 FR 22190 (‘‘Notice’’).
5 See Securities Exchange Act Release No. 86233,
84 FR 32230 (July 05, 2019) (‘‘OIP’’).
6 See Letters from Theodore R. Lazo, Managing
Director and Associate General Counsel, SIFMA,
dated July 26, 2019 (‘‘SIFMA Letter’’); Tyler
Gellasch, Executive Director, Healthy Markets,
dated July 26, 2019 (‘‘Healthy Markets Letter’’); and
Rebecca Tenuta, Counsel, Cboe Global Markets,
dated August 9, 2019 (‘‘Exchange Response’’).
7 15 U.S.C. 78s(b)(2).
2 17
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]]>Agencies
[Federal Register Volume 84, Number 222 (Monday, November 18, 2019)]
[Notices]
[Pages 63699-63700]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24874]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-87503; File No. SR-NYSEArca-2019-01]
Self-Regulatory Organizations; NYSE Arca, Inc.; Order Scheduling
Filing of Statements on Review for an Order of Disapproval of Proposed
Rule Change To List and Trade the Shares of Bitwise Bitcoin ETF Trust
November 12, 2019.
On January 28, 2019, 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 (``Exchange
Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to list
and trade shares of the Bitwise Bitcoin ETF Trust under NYSE Arca Rule
8.201-E. The proposed rule change was published for comment in the
Federal Register on February 15, 2019.\3\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 85093 (Feb. 11,
2019), 84 FR 4589 (Feb. 15, 2019).
---------------------------------------------------------------------------
On March 29, 2019, pursuant to Section 19(b)(2) of the Exchange
Act,\4\
[[Page 63700]]
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 approve or disapprove the proposed
rule change.\5\ On May 7, 2019, NYSE Arca filed Amendment No. 1 to the
proposed rule change, which replaced and superseded the proposed rule
change as originally filed, and on May 14, 2019, the Commission
published the proposed rule change, as modified by Amendment No. 1, for
notice and comment and instituted proceedings under Section 19(b)(2)(B)
of the Exchange Act \6\ to determine whether to approve or disapprove
the proposed rule change, as modified by Amendment No. 1.\7\ On August
12, 2019, the Commission extended the period for consideration of the
proposed rule change, as modified by Amendment No. 1, to October 13,
2019.\8\
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 85461 (Mar. 29,
2019), 84 FR 13339 (Apr. 4, 2019).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 85854 (May 14,
2019), 84 FR 23125 (May 21, 2019).
\8\ See Securities Exchange Act Release No. 86629 (Aug. 12,
2019), 84 FR 42036 (Aug. 16, 2019).
---------------------------------------------------------------------------
On October 9, 2019, the Division of Trading and Markets, pursuant
to delegated authority,\9\ issued an order disapproving the proposed
rule change, as modified by Amendment No. 1.\10\ On October 15, 2019,
the Secretary of the Commission notified NYSE Arca that, pursuant to
Commission Rule of Practice 431,\11\ the Commission would review the
Division's action pursuant to delegated authority and that the
Division's action pursuant to delegated authority had been
automatically stayed.\12\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
\10\ See Securities Exchange Act Release No. 87267 (Oct. 9,
2019), 84 FR 55382 (Oct. 16, 2019).
\11\ See 17 CFR 201.431.
\12\ See Letter from Secretary of the Commission to Michael
Cavalier, Counsel, and David De Gregorio Senior Counsel,
Intercontinental Exchange/NYSE (Oct. 15, 2019), available at https://www.sec.gov/rules/sro/nysearca/2019/34-87267-letter.pdf.
---------------------------------------------------------------------------
Accordingly, it is ordered, pursuant to Commission Rule of Practice
431, that by December 18, 2019, any party or other person may file a
statement in support of, or in opposition to, the action made pursuant
to delegated authority.
It is further ordered that the order disapproving proposed rule
change SR-NYSEArca-2019-01 shall remain in effect pending the
Commission's review.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-24874 Filed 11-15-19; 8:45 am]
BILLING CODE 8011-01-P
