80 FR 16475 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt New Rule 21.17, Exchange Sharing of User Designated Risk Settings
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 59 (March 27, 2015)
Federal Register Volume 80, Issue 59 (March 27, 2015)
| Page Range | 16475-16477 | |
| FR Document | 2015-06994 |
[Federal Register Volume 80, Number 59 (Friday, March 27, 2015)] [Notices] [Pages 16475-16477] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-06994] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74565; File No. SR-BATS-2015-22] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt New Rule 21.17, Exchange Sharing of User Designated Risk Settings March 23, 2015. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on March 13, 2015, BATS Exchange, Inc. (the ``Exchange'' or ``BATS'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange has designated this proposal as a ``non-controversial'' proposed rule change pursuant to section 19(b)(3)(A) of the Act \3\ and Rule 19b- 4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ 15 U.S.C. 78s(b)(3)(A). \4\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to authorize the BATS Options Market (``BATS Options'') to share a User's \5\ risk settings with the Clearing Member \6\ that clears transactions on behalf of the User. --------------------------------------------------------------------------- \5\ A User is defined as ``any Options member or Sponsored Participant who is authorized to obtain access to the System pursuant to Rule 11.3 (Access).'' See Exchange Rule 16.1(a)(63). \6\ A Clearing Member is defined as ``an Options Member that is self-clearing or an Options Member that clears BATS Options Transactions for other Members of BATS Options.'' See Exchange Rule 16.1(a)(15). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at www.batstrading.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 Exchange 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 these 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange is proposing to adopt new Rule 21.17, Exchange Sharing of User Designated Risk Settings, in order to authorize the Exchange to share any of a User's risk settings with the Clearing Member that clears transactions on behalf of the User. Under BATS Rule 17.2(b), Options Members \7\ must be Clearing Members or establish a clearing arrangement with a Clearing Member. Rule 21.13(a) provides that every Clearing Member is responsible for the clearance of BATS Options Transactions \8\ of such Clearing Member and of each User that gives up such Clearing Member's name pursuant to a letter of authorization, letter of guarantee, or other authorization given by such Clearing Member to such User, which authorization must be submitted to the Exchange. Further, no Options Member may make any transactions on the Exchange unless a letter of guarantee providing that the issuing Clearing Member accepts financial responsibilities for all BATS Options Transactions made by the Options Member (a ``Letter of Guarantee'') has been issued for such Options Member by a Clearing Member and filed with the Exchange. --------------------------------------------------------------------------- \7\ An Options Member is defined as ``a firm, or organization that is registered with the Exchange pursuant to Chapter XVII of these Rules for purposes of participating in options trading on BATS Options as an `Options Order Entry Firm' or `Options Market Maker.' '' See Exchange Rule 16.1(a)(38). \8\ A BATS Options Transactions is defined as ``a transaction involving an options contract that is effected on or through BATS Options or its facilities or systems.'' See Exchange Rule 16.1(a)(11). --------------------------------------------------------------------------- Thus, while not all Options Members are Clearing Members, all Options [[Page 16476]] Members require a Clearing Member's consent to clear transactions on their behalf (or on behalf of any Sponsored Participants \9\ for which the Options Member is a Sponsoring Member \10\) in order to conduct business on the Exchange. Each Options Member that transacts through a Clearing Member on the Exchange executes a Letter of Guarantee which codifies the relationship between the Options Member and the Clearing Member and provides the Exchange with notice of which Clearing Members have relationships with which Options Members. The Clearing Member that guarantees the Options Member's transactions on the Exchange has a financial interest in understanding the risk tolerance of the Options Member. The proposal would provide the Exchange with authority to directly provide Clearing Members with information that may otherwise be available to such Clearing Members by virtue of their relationship with the respective Users. --------------------------------------------------------------------------- \9\ A Sponsored Participant is defined as ``a person which has entered into a sponsorship arrangement with a Sponsoring Member pursuant to Rule 11.3. See Exchange Rule 1.5(x). \10\ A Sponsoring Member is defined as ``a broker-dealer that has been issued a membership by the Exchange who has been designated by a Sponsored Participant to execute, clear and settle transactions resulting from the System. The Sponsoring Member shall be either (i) a clearing firm with membership in a clearing agency registered with the Commission that maintains facilities through which transactions may be cleared or (ii) a correspondent firm with a clearing arrangement with any such clearing firm.'' See Exchange Rule 1.5(y). --------------------------------------------------------------------------- At this time, the risk settings covered by this proposal are set forth in Rule 21.16, entitled Risk Monitor Mechanism.\11\ The Exchange may adopt additional rules providing for Options Member designated risk settings other than those provided in Rule 21.16 that could be shared with an Options Member's Clearing Member under the proposal and the Exchange would announce these additional risk settings by issuing a Trade Desk Notice. --------------------------------------------------------------------------- \11\ See Exchange Rule 21.16. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of section 6(b) of the Act.\12\ In particular, the proposal is consistent with section 6(b)(5) of the Act \13\ because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, 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. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f(b). \13\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposed rule change will allow the Exchange to directly provide an Options Member's designated risk settings to the Clearing Member that clears trades on behalf of the Options Member. Because a Clearing Member that executes a clearing Letter of Guarantee on behalf of an Options Member guarantees all transactions of that Options Member, and therefore bears the risk associated with those transactions, it is appropriate for the Clearing Member to have knowledge of what risk settings the Options Member may utilize within the Trading System.\14\ The proposal will permit Clearing Members who have a financial interest in the risk settings of Options Members with whom the Clearing Participant has entered into a Letter of Guarantee to better monitor and manage the potential risks assumed by Clearing Members, thereby providing Clearing Members with greater control and flexibility over setting their own risk tolerance and exposure and aiding Clearing Members in complying with the Act. To the extent a Clearing Member might reasonably require an Options Member to provide access to its risk setting as a prerequisite to continuing to clear trades on the Options Member's behalf, the Exchange's proposal to share those risk settings directly reduces the administrative burden on Options Members and ensures that Clearing Members are receiving information that is up to date and conforms to the settings active in the Trading System. --------------------------------------------------------------------------- \14\ Trading System is defined as ``the automated trading system used by BATS Options for the trading of options contracts.'' See Exchange Rule 16.1(a)(59). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not designed to address any competitive issues and does not pose an undue burden on non-Clearing Members because, unlike Clearing Members, non-Clearing Members do not guarantee the execution of an Options Member's transactions on the Exchange. The proposal is structured to offer the same enhancement to all Clearing Members, regardless of size, and would not impose a competitive burden on any Options Member. Any Options Member that does not wish to share its designated risk settings with its Clearing Member could avoid sharing such settings by becoming a Clearing Member. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has been filed by the Exchange as a ``non-controversial'' rule change pursuant to section 19(b)(3)(A)(i) of the Act \15\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\16\ Consequently, because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to section 19(b)(3)(A) of the Act \17\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\18\ --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A)(i). \16\ 17 CFR 240.19b-4(f)(6). \17\ 15 U.S.C. 78s(b)(3)(A). \18\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \19\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\20\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so the Exchange may allow Clearing Members to immediately monitor and manage the potential risks assumed by Options Members. The [[Page 16477]] Exchange notes that this functionality is already available on other exchanges. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because it will allow the Exchange's Clearing Members to monitor and manage potential risks in a timely manner. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change to be operative upon filing with the Commission.\21\ --------------------------------------------------------------------------- \19\ 17 CFR 240.19b-4(f)(6). \20\ 17 CFR 240.19b-4(f)(6)(iii). \21\ For purposes only of waiving the operative delay for this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission may summarily temporarily suspend such rule change if it appears to the Commission that such action is: (1) Necessary or appropriate in the public interest; (2) for the protection of investors; or (3) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposal is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-BATS-2015-22 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-BATS-2015-22. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing will also be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-BATS-2015-22 and should be submitted on or before April 17, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\22\ --------------------------------------------------------------------------- \22\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-06994 Filed 3-26-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 59 / Friday, March 27, 2015 / Notices 16475
IV. Solicitation of Comments For the Commission, by the Division of the Commission’s Public Reference
Trading and Markets, pursuant to delegated Room.
Interested persons are invited to authority.16
submit written data, views, and Brent J. Fields, II. Self-Regulatory Organization’s
arguments concerning the foregoing, Secretary.
Statement of the Purpose of, and
including whether the proposed rule Statutory Basis for, the Proposed Rule
[FR Doc. 2015–06992 Filed 3–26–15; 8:45 am]
change is consistent with the Act. Change
BILLING CODE 8011–01–P
Comments may be submitted by any of In its filing with the Commission, the
the following methods: Exchange included statements
Electronic Comments SECURITIES AND EXCHANGE concerning the purpose of and basis for
COMMISSION the proposed rule change and discussed
• Use the Commission’s Internet any comments it received on the
comment form (http://www.sec.gov/ [Release No. 34–74565; File No. SR–BATS– proposed rule change. The text of these
rules/sro.shtml); or 2015–22] statements may be examined at the
• Send an email to rule-comments@ places specified in Item IV below. The
Self-Regulatory Organizations; BATS
sec.gov. Please include File Number SR– Exchange has prepared summaries, set
Exchange, Inc.; Notice of Filing and
ICC–2015–004 on the subject line. forth in sections A, B, and C below, of
Immediate Effectiveness of a Proposed
the most significant parts of such
Paper Comments Rule Change To Adopt New Rule 21.17,
statements.
Exchange Sharing of User Designated
• Send paper comments in triplicate Risk Settings A. Self-Regulatory Organization’s
to Secretary, Securities and Exchange Statement of the Purpose of, and
Commission, 100 F Street NE., March 23, 2015. Statutory Basis for, the Proposed Rule
Washington, DC 20549–1090. Pursuant to section 19(b)(1) of the Change
Securities Exchange Act of 1934 (the
All submissions should refer to File ‘‘Act’’),1 and Rule 19b–4 thereunder,2 1. Purpose
Number SR–ICC–2015–004. This file notice is hereby given that on March 13, The Exchange is proposing to adopt
number should be included on the 2015, BATS Exchange, Inc. (the new Rule 21.17, Exchange Sharing of
subject line if email is used. To help the ‘‘Exchange’’ or ‘‘BATS’’) filed with the User Designated Risk Settings, in order
Commission process and review your Securities and Exchange Commission to authorize the Exchange to share any
comments more efficiently, please use (‘‘Commission’’) the proposed rule of a User’s risk settings with the
only one method. The Commission will change as described in Items I and II Clearing Member that clears
post all comments on the Commission’s below, which Items have been prepared transactions on behalf of the User.
Internet Web site (http://www.sec.gov/ by the Exchange. The Exchange has Under BATS Rule 17.2(b), Options
rules/sro.shtml). Copies of the designated this proposal as a ‘‘non- Members 7 must be Clearing Members or
submission, all subsequent controversial’’ proposed rule change establish a clearing arrangement with a
amendments, all written statements pursuant to section 19(b)(3)(A) of the Clearing Member. Rule 21.13(a)
with respect to the proposed rule Act 3 and Rule 19b–4(f)(6)(iii) provides that every Clearing Member is
change that are filed with the thereunder,4 which renders it effective responsible for the clearance of BATS
Commission, and all written upon filing with the Commission. The Options Transactions 8 of such Clearing
communications relating to the Commission is publishing this notice to Member and of each User that gives up
proposed rule change between the solicit comments on the proposed rule such Clearing Member’s name pursuant
Commission and any person, other than change from interested persons. to a letter of authorization, letter of
those that may be withheld from the guarantee, or other authorization given
public in accordance with the I. Self-Regulatory Organization’s
Statement of the Terms of Substance of by such Clearing Member to such User,
provisions of 5 U.S.C. 552, will be which authorization must be submitted
available for Web site viewing and the Proposed Rule Change
to the Exchange. Further, no Options
printing in the Commission’s Public The Exchange filed a proposal to Member may make any transactions on
Reference Room, 100 F Street NE., authorize the BATS Options Market the Exchange unless a letter of guarantee
Washington, DC 20549, on official (‘‘BATS Options’’) to share a User’s 5 providing that the issuing Clearing
business days between the hours of risk settings with the Clearing Member 6 Member accepts financial
10:00 a.m. and 3:00 p.m. Copies of such that clears transactions on behalf of the responsibilities for all BATS Options
filings will also be available for User. Transactions made by the Options
inspection and copying at the principal The text of the proposed rule change Member (a ‘‘Letter of Guarantee’’) has
office of ICE Clear Credit and on ICE is available at the Exchange’s Web site been issued for such Options Member
Clear Credit’s Web site at https:// at www.batstrading.com, at the by a Clearing Member and filed with the
www.theice.com/clear-credit/regulation. principal office of the Exchange, and at Exchange.
All comments received will be posted Thus, while not all Options Members
without change; the Commission does 1 15 U.S.C. 78s(b)(1). are Clearing Members, all Options
not edit personal identifying 2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
information from submissions. You 7 An Options Member is defined as ‘‘a firm, or
4 17 CFR 240.19b–4(f)(6)(iii).
should submit only information that organization that is registered with the Exchange
mstockstill on DSK4VPTVN1PROD with NOTICES
5 A User is defined as ‘‘any Options member or pursuant to Chapter XVII of these Rules for
you wish to make available publicly. All Sponsored Participant who is authorized to obtain purposes of participating in options trading on
submissions should refer to File access to the System pursuant to Rule 11.3 BATS Options as an ‘Options Order Entry Firm’ or
Number SR–ICC–2015–004 and should (Access).’’ See Exchange Rule 16.1(a)(63). ‘Options Market Maker.’ ’’ See Exchange Rule
be submitted on or before April 17, 6 A Clearing Member is defined as ‘‘an Options 16.1(a)(38).
2015. Member that is self-clearing or an Options Member 8 A BATS Options Transactions is defined as ‘‘a
that clears BATS Options Transactions for other transaction involving an options contract that is
Members of BATS Options.’’ See Exchange Rule effected on or through BATS Options or its facilities
16 17 CFR 200.30–3(a)(12). 16.1(a)(15). or systems.’’ See Exchange Rule 16.1(a)(11).
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![Federal Register / Vol. 80, No. 59 / Friday, March 27, 2015 / Notices 16477
Exchange notes that this functionality is communications relating to the I. Self-Regulatory Organization’s
already available on other exchanges. proposed rule change between the Statement of the Terms of Substance of
The Commission believes that waiving Commission and any person, other than the Proposed Rule Change
the 30-day operative delay is consistent those that may be withheld from the The Exchange proposes to list and
with the protection of investors and the public in accordance with the trade shares of the following under
public interest because it will allow the provisions of 5 U.S.C. 552, will be NYSE Arca Equities Rule 8.600
Exchange’s Clearing Members to available for Web site viewing and (‘‘Managed Fund Shares’’): Principal
monitor and manage potential risks in a printing in the Commission’s Public EDGE Active Income ETF. The text of
timely manner. Therefore, the Reference Room, 100 F Street NE., the proposed rule change is available on
Commission hereby waives the 30-day Washington, DC 20549, on official the Exchange’s Web site at
operative delay and designates the business days between the hours of www.nyse.com, at the principal office of
proposed rule change to be operative 10:00 a.m. and 3:00 p.m. Copies of such the Exchange, and at the Commission’s
upon filing with the Commission.21 filing will also be available for Public Reference Room.
At any time within 60 days of the inspection and copying at the principal
filing of the proposed rule change, the office of the Exchange. All comments II. Self-Regulatory Organization’s
Commission may summarily Statement of the Purpose of, and
received will be posted without change;
temporarily suspend such rule change if Statutory Basis for, the Proposed Rule
the Commission does not edit personal
it appears to the Commission that such Change
identifying information from
action is: (1) Necessary or appropriate in submissions. You should submit only In its filing with the Commission, the
the public interest; (2) for the protection information that you wish to make self-regulatory organization included
of investors; or (3) otherwise in available publicly. All submissions statements concerning the purpose of,
furtherance of the purposes of the Act. should refer to File Number SR–BATS– and basis for, the proposed rule change
If the Commission takes such action, the 2015–22 and should be submitted on or and discussed any comments it received
Commission shall institute proceedings before April 17, 2015. on the proposed rule change. The text
to determine whether the proposed rule of those statements may be examined at
should be approved or disapproved. For the Commission, by the Division of the places specified in Item IV below.
Trading and Markets, pursuant to delegated The Exchange has prepared summaries,
IV. Solicitation of Comments authority.22 set forth in sections A, B, and C below,
Interested persons are invited to Brent J. Fields, of the most significant parts of such
submit written data, views, and Secretary. statements.
arguments concerning the foregoing, [FR Doc. 2015–06994 Filed 3–26–15; 8:45 am]
including whether the proposal is A. Self-Regulatory Organization’s
consistent with the Act. Comments may BILLING CODE 8011–01–P Statement of the Purpose of, and the
be submitted by any of the following Statutory Basis for, the Proposed Rule
methods: Change
SECURITIES AND EXCHANGE
Electronic Comments COMMISSION 1. Purpose
• Use the Commission’s Internet The Exchange proposes to list and
comment form (http://www.sec.gov/ [Release No. 34–74562; File No. SR– trade shares (‘‘Shares’’) of the following
rules/sro.shtml); or NYSEArca–2015–15] under NYSE Arca Equities Rule 8.600,
• Send an email to rule-comments@ which governs the listing and trading of
sec.gov. Please include File Number SR– Self-Regulatory Organizations; NYSE Managed Fund Shares 4 on the
BATS–2015–22 on the subject line. Arca, Inc.; Notice of Filing of Proposed Exchange: 5 Principal EDGE Active
Rule Change Relating to Listing and Income ETF (the ‘‘Fund’’).
Paper Comments
Trading of Shares of Principal EDGE
• Send paper comments in triplicate Active Income ETF Under NYSE Arca
4 A Managed Fund Share is a security that
to Secretary, Securities and Exchange represents an interest in an investment company
Equities Rule 8.600 registered under the Investment Company Act of
Commission, 100 F Street NE., 1940 (15 U.S.C. 80a–1) (‘‘1940 Act’’) organized as
Washington, DC 20549–1090. March 23, 2015. an open-end investment company or similar entity
All submissions should refer to File Pursuant to section 19(b)(1) 1 of the that invests in a portfolio of securities selected by
Number SR–BATS–2015–22. This file its investment adviser consistent with its
Securities Exchange Act of 1934 (the investment objectives and policies. In contrast, an
number should be included on the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 open-end investment company that issues
subject line if email is used. To help the notice is hereby given that, on March Investment Company Units, listed and traded on
Commission process and review your 12, 2015, NYSE Arca, Inc. (the
the Exchange under NYSE Arca Equities Rule
5.2(j)(3), seeks to provide investment results that
comments more efficiently, please use ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with correspond generally to the price and yield
only one method. The Commission will the Securities and Exchange performance of a specific foreign or domestic stock
post all comments on the Commission’s Commission (the ‘‘Commission’’) the index, fixed income securities index or combination
Internet Web site (http://www.sec.gov/ thereof.
proposed rule change as described in 5 The Commission has previously approved
rules/sro.shtml). Copies of the Items I and II below, which Items have listing and trading on the Exchange of actively
submission, all subsequent been prepared by the self-regulatory managed funds under Rule 8.600. See, e.g.,
amendments, all written statements organization. The Commission is Securities Exchange Act Release Nos. 57801 (May
with respect to the proposed rule 8, 2008), 73 FR 27878 (May 14, 2008) (SR–
mstockstill on DSK4VPTVN1PROD with NOTICES
publishing this notice to solicit NYSEArca–2008–31) (order approving Exchange
change that are filed with the comments on the proposed rule change listing and trading of twelve actively-managed
Commission, and all written from interested persons. funds of the WisdomTree Trust); 66321 (February
3, 2012), 77 FR 6850 (February 9, 2012) (SR–
21 For purposes only of waiving the operative NYSEArca–2011–95) (order approving listing and
22 17 CFR 200.30–3(a)(12).
delay for this proposal, the Commission has trading of PIMCO Total Return Exchange Traded
1 15 U.S.C. 78s(b)(1).
considered the proposed rule’s impact on Fund); 66670 (March 28, 2012), 77 FR 20087 (April
2 15 U.S.C. 78a.
efficiency, competition, and capital formation. See 3, 2012) (SR–NYSEArca–2012–09) (order approving
15 U.S.C. 78c(f). 3 17 CFR 240.19b–4. Continued
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Document Created: 2015-12-18 11:36:22
Document Modified: 2015-12-18 11:36:22
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