80_FR_34298 80 FR 34184 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, Relating to the Listing and Trading of the Shares of 18 Eaton Vance NextShares ETMFs of Either the Eaton Vance ETMF Trust or the Eaton Vance ETMF Trust II

80 FR 34184 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, Relating to the Listing and Trading of the Shares of 18 Eaton Vance NextShares ETMFs of Either the Eaton Vance ETMF Trust or the Eaton Vance ETMF Trust II

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 114 (June 15, 2015)

Page Range34184-34185
FR Document2015-14477

Federal Register, Volume 80 Issue 114 (Monday, June 15, 2015) 
[Federal Register Volume 80, Number 114 (Monday, June 15, 2015)]
[Notices]
[Pages 34184-34185]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-14477]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75121; File No. SR-NASDAQ-2015-036]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, 
Relating to the Listing and Trading of the Shares of 18 Eaton Vance 
NextShares ETMFs of Either the Eaton Vance ETMF Trust or the Eaton 
Vance ETMF Trust II

June 8, 2015.

I. Introduction

    On April 10, 2015, The NASDAQ Stock Market LLC (``Nasdaq'' 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 list and trade the shares (``Shares'') of the 
following 18 exchange-traded managed funds: Eaton Vance Balanced 
NextSharesTM; Eaton Vance Global Dividend Income 
NextSharesTM; Eaton Vance Growth NextSharesTM; 
Eaton Vance Large-Cap Value NextSharesTM; Eaton Vance 
Richard Bernstein All Asset Strategy NextSharesTM; Eaton 
Vance Richard Bernstein Equity Strategy NextSharesTM; Eaton 
Vance Small-Cap NextSharesTM; Eaton Vance Stock 
NextSharesTM; Parametric Emerging Markets 
NextSharesTM; Parametric International Equity 
NextSharesTM; Eaton Vance Bond NextSharesTM; 
Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond 
NextSharesTM; Eaton Vance Floating-Rate & High Income 
NextSharesTM; Eaton Vance Global Macro Absolute Return 
NextSharesTM; Eaton Vance Government Obligations 
NextSharesTM; Eaton Vance High Income Opportunities 
NextSharesTM; Eaton Vance High Yield Municipal Income 
NextSharesTM; and Eaton Vance National Municipal Income 
NextSharesTM (collectively, ``Funds''). On April 21, 2015, 
the Exchange filed Amendments Nos. 1 and 2 to the proposal.\3\ The 
proposed rule change, as modified by Amendments Nos. 1 and 2 thereto, 
was published for comment in the Federal Register on April 29, 2015.\4\ 
The Commission received no comments on the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Amendment No. 1 amended and replaced the proposed rule 
change in its entirety. Amendment No. 2 subsequently amended the 
proposal to include a new footnote to reflect a Web site reference.
    \4\ See Securities Exchange Act Release No. 74797 (Apr. 23, 
2015), 80 FR 23831 (``Notice'').
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is June 13, 2015. The Commission is extending 
this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change, which seeks to 
list and trade Shares of the Funds pursuant to Nasdaq Rule 5745 
governing the listing

[[Page 34185]]

and trading of Exchange-Traded Managed Fund Shares, so that it has 
sufficient time to consider this proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates July 28, 2015, as the date by which the Commission 
shall either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File No. SR-
NASDAQ-2015-036).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-14477 Filed 6-12-15; 8:45 am]
 BILLING CODE 8011-01-P

34184 Federal Register / Vol. 80, No. 114 / Monday, June 15, 2015 / Notices C. Self-Regulatory Organization’s (http://www.sec.gov/rules/sro.shtml). thereunder,2 a proposed rule change to Statement on Comments on the Copies of the submission, all subsequent list and trade the shares (‘‘Shares’’) of Proposed Rule Change Received From amendments, all written statements the following 18 exchange-traded Members, Participants, or Others with respect to the proposed rule managed funds: Eaton Vance Balanced No written comments were solicited change that are filed with the NextSharesTM; Eaton Vance Global or received with respect to the proposed Commission, and all written Dividend Income NextSharesTM; Eaton rule change. communications relating to the Vance Growth NextSharesTM; Eaton proposed rule change between the Vance Large-Cap Value NextSharesTM; III. Date of Effectiveness of the Commission and any person, other than Eaton Vance Richard Bernstein All Proposed Rule Change and Timing for those that may be withheld from the Asset Strategy NextSharesTM; Eaton Commission Action public in accordance with the Vance Richard Bernstein Equity Strategy The foregoing rule change is effective provisions of 5 U.S.C. 552, will be NextSharesTM; Eaton Vance Small-Cap upon filing pursuant to Section available for Web site viewing and NextSharesTM; Eaton Vance Stock 19(b)(3)(A) 12 of the Act and printing in the Commission’s Public NextSharesTM; Parametric Emerging subparagraph (f)(2) of Rule 19b–4 13 Reference Room, 100 F Street NE., Markets NextSharesTM; Parametric thereunder, because it establishes a due, Washington, DC 20549, on official International Equity NextSharesTM; fee, or other charge imposed by the business days between the hours of Eaton Vance Bond NextSharesTM; Eaton Exchange. 10:00 a.m. and 3:00 p.m. Copies of the Vance TABS 5-to-15 Year Laddered At any time within 60 days of the filing will also be available for Municipal Bond NextSharesTM; Eaton filing of such proposed rule change, the inspection and copying at the NYSE’s Vance Floating-Rate & High Income Commission summarily may principal office and on its Internet Web NextSharesTM; Eaton Vance Global temporarily suspend such rule change if site at www.nyse.com. All comments Macro Absolute Return NextSharesTM; it appears to the Commission that such received will be posted without change; Eaton Vance Government Obligations action is necessary or appropriate in the the Commission does not edit personal NextSharesTM; Eaton Vance High public interest, for the protection of identifying information from Income Opportunities NextSharesTM; investors, or otherwise in furtherance of submissions. You should submit only Eaton Vance High Yield Municipal the purposes of the Act. If the information that you wish to make Income NextSharesTM; and Eaton Vance Commission takes such action, the available publicly. All submissions National Municipal Income Commission shall institute proceedings should refer to File Number SR– NextSharesTM (collectively, ‘‘Funds’’). under Section 19(b)(2)(B) 14 of the Act to NYSEArca–2015–49, and should be On April 21, 2015, the Exchange filed determine whether the proposed rule submitted on or before July 6, 2015. Amendments Nos. 1 and 2 to the change should be approved or For the Commission, by the Division of proposal.3 The proposed rule change, as disapproved. Trading and Markets, pursuant to delegated modified by Amendments Nos. 1 and 2 authority.15 thereto, was published for comment in IV. Solicitation of Comments Robert W. Errett, the Federal Register on April 29, 2015.4 Interested persons are invited to Deputy Secretary. The Commission received no comments submit written data, views, and [FR Doc. 2015–14478 Filed 6–12–15; 8:45 am] on the proposed rule change. arguments concerning the foregoing, Section 19(b)(2) of the Act 5 provides BILLING CODE 8011–01–P including whether the proposed rule that within 45 days of the publication of change is consistent with the Act. notice of the filing of a proposed rule Comments may be submitted by any of SECURITIES AND EXCHANGE change, or within such longer period up the following methods: COMMISSION to 90 days as the Commission may designate if it finds such longer period Electronic Comments [Release No. 34–75121; File No. SR– to be appropriate and publishes its NASDAQ–2015–036] • Use the Commission’s Internet reasons for so finding or as to which the comment form (http://www.sec.gov/ Self-Regulatory Organizations; The self-regulatory organization consents, rules/sro.shtml); or NASDAQ Stock Market LLC; Notice of the Commission shall either approve the • Send an email to rule-comments@ Designation of a Longer Period for proposed rule change, disapprove the sec.gov. Please include File Number SR– Commission Action on Proposed Rule proposed rule change, or institute NYSEArca–2015–49 on the subject line. Change, as Modified by Amendments proceedings to determine whether the Nos. 1 and 2 Thereto, Relating to the proposed rule change should be Paper Comments Listing and Trading of the Shares of 18 disapproved. The 45th day for this filing • Send paper comments in triplicate is June 13, 2015. The Commission is to Secretary, Securities and Exchange Eaton Vance NextShares ETMFs of Either the Eaton Vance ETMF Trust or extending this 45-day time period. Commission, 100 F Street NE., The Commission finds it appropriate Washington, DC 20549–1090. the Eaton Vance ETMF Trust II to designate a longer period within All submissions should refer to File June 8, 2015. which to take action on the proposed Number SR–NYSEArca–2015–49. This rule change, which seeks to list and I. Introduction file number should be included on the trade Shares of the Funds pursuant to subject line if email is used. On April 10, 2015, The NASDAQ Nasdaq Rule 5745 governing the listing asabaliauskas on DSK5VPTVN1PROD with NOTICES To help the Commission process and Stock Market LLC (‘‘Nasdaq’’ or review your comments more efficiently, ‘‘Exchange’’) filed with the Securities 2 17 CFR 240.19b–4. please use only one method. The and Exchange Commission 3 Amendment No. 1 amended and replaced the Commission will post all comments on (‘‘Commission’’), pursuant to Section proposed rule change in its entirety. Amendment No. 2 subsequently amended the proposal to the Commission’s Internet Web site 19(b)(1) of the Securities Exchange Act include a new footnote to reflect a Web site of 1934 (‘‘Act’’) 1 and Rule 19b–4 reference. 12 15 U.S.C. 78s(b)(3)(A). 4 See Securities Exchange Act Release No. 74797 13 17 CFR 240.19b–4(f)(2). 15 17 CFR 200.30–3(a)(12). (Apr. 23, 2015), 80 FR 23831 (‘‘Notice’’). 14 15 U.S.C. 78s(b)(2)(B). 1 15 U.S.C. 78s(b)(1). 5 15 U.S.C. 78s(b)(2). VerDate Sep<11>2014 16:39 Jun 12, 2015 Jkt 235001 PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 E:\FR\FM\15JNN1.SGM 15JNN1

Federal Register / Vol. 80, No. 114 / Monday, June 15, 2015 / Notices 34185 and trading of Exchange-Traded the Exchange, and at the Commission’s Professional Customer 10 orders.11 The Managed Fund Shares, so that it has Public Reference Room. Exchange also charges an equivalent sufficient time to consider this proposed maker fee in Select Symbols that applies rule change. II. Self-Regulatory Organization’s specifically when trading against Accordingly, the Commission, Statement of the Purpose of, and Priority Customer orders. The Exchange pursuant to Section 19(b)(2) of the Act,6 Statutory Basis for, the Proposed Rule now proposes to increase the above fees designates July 28, 2015, as the date by Change for Non-ISE Market Maker, Firm which the Commission shall either Proprietary/Broker-Dealer, and In its filing with the Commission, the approve or disapprove, or institute Professional Customer orders to $0.47 self-regulatory organization included proceedings to determine whether to per contract. For Market Maker orders, statements concerning the purpose of, disapprove, the proposed rule change the Exchange proposes to charge a tiered (File No. SR–NASDAQ–2015–036). and basis for, the proposed rule change and discussed any comments it received fee based on total affiliated Priority For the Commission, by the Division of on the proposed rule change. The text Customer complex order average daily Trading and Markets, pursuant to delegated volume (‘‘ADV’’).12 As proposed, authority.7 of these statements may be examined at the places specified in Item IV below. Market Makers with a total affiliated Robert W. Errett, The self-regulatory organization has Priority Customer ADV of up to 149,999 Deputy Secretary. contracts will pay a fee of $0.46 per prepared summaries, set forth in [FR Doc. 2015–14477 Filed 6–12–15; 8:45 am] contract, while Market Makers with a sections A, B and C below, of the most BILLING CODE 8011–01–P significant aspects of such statements. total affiliated Priority Customer Complex ADV of 150,000 or more A. Self-Regulatory Organization’s contracts will pay fees at the current SECURITIES AND EXCHANGE Statement of the Purpose of, and rate of $0.43 per contract.13 COMMISSION Statutory Basis for, the Proposed Rule Change 2. Statutory Basis [Release No. 34–75130; File No. SR–ISE– 2015–19] 1. Purpose The Exchange believes that the proposed rule change is consistent with Self-Regulatory Organizations; The purpose of the proposed rule the provisions of Section 6 of the Act,14 International Securities Exchange, change is to increase certain complex in general, and Section 6(b)(4) of the LLC; Notice of Filing and Immediate order fees in Select Symbols,3 and to Act,15 in particular, in that it is designed Effectiveness of Proposed Rule introduce tiered fees for certain Market to provide for the equitable allocation of Change To Amend the Schedule of Maker 4 complex orders based on Fees reasonable dues, fees, and other charges affiliated Priority Customer 5 complex among its members and other persons June 9, 2015. order volume. Currently, the Exchange using its facilities. Pursuant to Section 19(b)(1) of the charges complex order taker fees in Select Symbols that are $0.43 per The Exchange believes that the Securities Exchange Act of 1934 (the proposed fee increase is reasonable and ‘‘Act’’),1 and Rule 19b–4 thereunder,2 contract for Market Maker orders,6 and $0.44 per contract for Non-ISE Market equitable as the proposed fees are set at notice is hereby given that on June 1, levels that the Exchange believes will 2015, the International Securities Maker,7 Firm Proprietary 8/Broker- continue to be attractive to market Exchange, LLC (the ‘‘Exchange’’ or the Dealer,9 and participants that trade on ISE, and offset ‘‘ISE’’) filed with the Securities and rebates provided to Priority Customer Exchange Commission the proposed 3 ‘‘Select Symbols’’ are options overlying all symbols listed on the ISE that are in the Penny Pilot complex orders, which were recently rule change, as described in Items I, II, and III below, which items have been Program. 4 The term ‘‘Market Makers’’ refers to 10 A ‘‘Professional Customer’’ is a person or entity prepared by the self-regulatory ‘‘Competitive Market Makers’’ and ‘‘Primary Market that is not a broker/dealer and is not a Priority organization. The Commission is Makers’’ collectively. See Rule 100(a)(25). Customer. publishing this notice to solicit 5 A ‘‘Priority Customer’’ is a person or entity that 11 Priority Customer Complex Orders are not comments on the proposed rule change is not a broker/dealer in securities, and does not charged maker/taker fees and are instead provided from interested persons. place more than 390 orders in listed options per day a volume based rebate that ranges from $0.30 per on average during a calendar month for its own contract to $0.46 per contract in Select Symbols. I. Self-Regulatory Organization’s beneficial account(s), as defined in ISE Rule 12 As is the case for other fees based on affiliated Statement of the Terms of Substance of 100(a)(37A). member volume, the Exchange will continue to aggregate eligible volume from affiliated members the Proposed Rule Change 6 ISE Market Makers making or taking liquidity in determining total affiliated Priority Customer receive a discount of $0.02 when trading against The ISE proposes to amend the Complex ADV, provided there is at least 75% Priority Customer orders preferenced to them in the common ownership between the Members as Schedule of Fees to increase certain Complex Order Book in equity options that are able reflected on each Member’s Form BD, Schedule A. complex order fees in Select Symbols, to be listed and traded on more than one options For purposes of determining Priority Customer and to introduce tiered fees for certain exchange. This discount does not apply to FX Complex ADV, any day that the complex order book Options Symbols or to option classes designated by is not open for the entire trading day may be Market Maker complex orders based on the Exchange to receive a guaranteed allocation excluded from such calculation; provided that the affiliated Priority Customer complex pursuant to ISE Rule 722(b)(3)(i)(B). Exchange will only remove the day for members asabaliauskas on DSK5VPTVN1PROD with NOTICES order volume. The text of the proposed 7 A ‘‘Non-ISE Market Maker’’ is a market maker that would have a lower ADV with the day rule change is available on the as defined in Section 3(a)(38) of the Securities included. Exchange’s Web site (http:// Exchange Act of 1934, as amended, registered in the 13 The fee for the highest volume tier achieved same options class on another options exchange. will be applied retroactively to all eligible volume www.ise.com), at the principal office of 8 A ‘‘Firm Proprietary’’ order is an order once the threshold has been reached. submitted by a member for its own proprietary Preferenced Market Makers will continue to be 6 Id. account. eligible for a $0.02 per contract discount as 7 17 CFR 200.30–3(a)(31). 9 A ‘‘Broker-Dealer’’ order is an order submitted described in footnote 6 above. 1 15 U.S.C. 78s(b)(1). 14 15 U.S.C. 78f. by a member for a broker-dealer account that is not 2 17 CFR 240.19b–4. its own proprietary account. 15 15 U.S.C. 78f(b)(4). VerDate Sep<11>2014 16:39 Jun 12, 2015 Jkt 235001 PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 E:\FR\FM\15JNN1.SGM 15JNN1


Document Created: 2015-12-15 15:13:32
Document Modified: 2015-12-15 15:13:32
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 34184 
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR