80 FR 46627 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change Amending NYSE Arca Equities Rule 5.2(j)(3), Commentary .02 Relating to Listing of Investment Company Units Based on Municipal Bond Indexes
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 150 (August 5, 2015)
Federal Register Volume 80, Issue 150 (August 5, 2015)
| Page Range | 46627-46628 | |
| FR Document | 2015-19135 |
[Federal Register Volume 80, Number 150 (Wednesday, August 5, 2015)] [Notices] [Pages 46627-46628] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-19135] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75569; File No. SR-NYSEArca-2015-01] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change Amending NYSE Arca Equities Rule 5.2(j)(3), Commentary .02 Relating to Listing of Investment Company Units Based on Municipal Bond Indexes July 30, 2015. On January 16, 2015, NYSE Arca, Inc. 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 NYSE Arca Equities Rule 5.2(j)(3), Commentary .02 relating to the listing of Investment Company Units based on municipal bond indexes. The proposed rule change was published for comment in the Federal Register on February 4, 2015.\3\ On March 19, 2015, 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 4, 2015, the Commission published an order instituting proceedings under 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. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 74175 (Jan. 29, 2015), 80 FR 6150. \4\ 15 U.S.C. 78s(b)(2). \5\ See Securities Exchange Act Release No. 74534, 80 FR 15834 (Mar. 25, 2015). The Commission designated a longer period within which to take action on the proposed rule change and designated May 5, 2015, as the date by which it should approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change. \6\ 15 U.S.C. 78s(b)(2)(B). \7\ See Securities Exchange Act Release No. 74863 (May 4, 2015), 80 FR 26591 (May 8, 2015) (``Order Instituting Proceedings''). Specifically, the Commission instituted proceedings to allow for additional analysis of the proposed rule change's consistency with Section 6(b)(5) of the Act, 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,'' and ``to protect investors and the public interest.'' See id. --------------------------------------------------------------------------- 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, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for that determination. The proposed rule change was published for notice and comment in the Federal Register on February 4, 2015.\9\ The 180th day after publication of the notice of the filing of the proposed rule change in the Federal Register is August 3, 2015, and the 240th day after publication of the notice of the filing of the proposed rule change in the Federal Register is October 2, 2015. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78s(b)(2). \9\ See supra note 3. --------------------------------------------------------------------------- [[Page 46628]] 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,\10\ designates October 2, 2015 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-NYSEArca-2015-01). --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(57). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-19135 Filed 8-4-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 150 / Wednesday, August 5, 2015 / Notices 46627
it appears to the Commission that such should refer to File Number SR–Phlx– to the listing of Investment Company
action is necessary or appropriate in the 2015–66, and should be submitted on or Units based on municipal bond indexes.
public interest, for the protection of before August 26, 2015. The proposed rule change was
investors, or otherwise in furtherance of For the Commission, by the Division of published for comment in the Federal
the purposes of the Act. If the Trading and Markets, pursuant to delegated Register on February 4, 2015.3 On
Commission takes such action, the authority.18 March 19, 2015, pursuant to Section
Commission shall institute proceedings Robert W. Errett, 19(b)(2) of the Act,4 the Commission
to determine whether the proposed rule Deputy Secretary. designated a longer period within which
change should be approved or to approve the proposed rule change,
[FR Doc. 2015–19131 Filed 8–4–15; 8:45 am]
disapproved. disapprove the proposed rule change, or
BILLING CODE 8011–01–P
IV. Solicitation of Comments institute proceedings to determine
whether to disapprove the proposed
Interested persons are invited to rule change.5 On May 4, 2015, the
submit written data, views, and SECURITIES AND EXCHANGE
COMMISSION Commission published an order
arguments concerning the foregoing, instituting proceedings under Section
including whether the proposed rule [Release No. 34–75460; File No. SR– 19(b)(2)(B) of the Act 6 to determine
change is consistent with the Act. NYSEMKT–2015–48]
whether to approve or disapprove the
Comments may be submitted by any of
Self-Regulatory Organizations; NYSE proposed rule change.7 The Commission
the following methods:
MKT LLC; Notice of Filing and has received no comment letters on the
Electronic Comments Immediate Effectiveness of Proposed proposed rule change.
• Use the Commission’s Internet Rule Change Extending the Pilot Section 19(b)(2) of the Act 8 provides
comment form (http://www.sec.gov/ Period Applicable to the Customer that, after initiating disapproval
rules/sro.shtml); or Best Execution Auction per Rule proceedings, the Commission shall issue
• Send an email to rule-comments@ 971.1NY Until July 18, 2016 an order approving or disapproving the
sec.gov. Please include File Number SR– proposed rule change not later than 180
Phlx–2015–66 on the subject line. July 15, 2015.
days after the date of publication of
Paper Comments Correction notice of filing of the proposed rule
change. The Commission may, however,
• Send paper comments in triplicate In notice document 2015–17759,
extend the period for issuing an order
to Secretary, Securities and Exchange appearing on pages 43141 through
43143 in the issue of Tuesday, July 21, approving or disapproving the proposed
Commission, 100 F Street NE., rule change by not more than 60 days
Washington, DC 20549–1090. 2015, make the following correction:
On page 43143, in the first column, in if the Commission determines that a
All submissions should refer to File the last paragraph before the signature longer period is appropriate and
Number SR–Phlx–2015–66. This file block, on the 38th line, ‘‘August 10, publishes the reasons for that
number should be included on the 2015.’’ should read ‘‘August 11, 2015.’’ determination. The proposed rule
subject line if email is used. To help the [FR Doc. 2015–17759 Filed 8–4–15; 8:45 am] change was published for notice and
Commission process and review your comment in the Federal Register on
BILLING CODE 1505–01–P
comments more efficiently, please use February 4, 2015.9 The 180th day after
only one method. The Commission will publication of the notice of the filing of
post all comments on the Commission’s SECURITIES AND EXCHANGE the proposed rule change in the Federal
Internet Web site (http://www.sec.gov/ COMMISSION Register is August 3, 2015, and the
rules/sro.shtml). Copies of the 240th day after publication of the notice
submission, all subsequent [Release No. 34–75569; File No. SR– of the filing of the proposed rule change
amendments, all written statements NYSEArca–2015–01]
in the Federal Register is October 2,
with respect to the proposed rule 2015.
Self-Regulatory Organizations; NYSE
change that are filed with the
Arca, Inc.; Notice of Designation of a
Commission, and all written 3 See Securities Exchange Act Release No. 74175
Longer Period for Commission Action
communications relating to the (Jan. 29, 2015), 80 FR 6150.
on Proceedings to Determine Whether
proposed rule change between the 4 15 U.S.C. 78s(b)(2).
Commission and any person, other than to Approve or Disapprove a Proposed 5 See Securities Exchange Act Release No. 74534,
those that may be withheld from the Rule Change Amending NYSE Arca 80 FR 15834 (Mar. 25, 2015). The Commission
public in accordance with the Equities Rule 5.2(j)(3), Commentary .02 designated a longer period within which to take
Relating to Listing of Investment action on the proposed rule change and designated
provisions of 5 U.S.C. 552, will be May 5, 2015, as the date by which it should
available for Web site viewing and Company Units Based on Municipal approve, disapprove, or institute proceedings to
printing in the Commission’s Public Bond Indexes determine whether to disapprove the proposed rule
change.
Reference Room, 100 F Street NE., July 30, 2015. 6 15 U.S.C. 78s(b)(2)(B).
Washington, DC 20549 on official On January 16, 2015, NYSE Arca, Inc. 7 See Securities Exchange Act Release No. 74863
business days between the hours of filed with the Securities and Exchange (May 4, 2015), 80 FR 26591 (May 8, 2015) (‘‘Order
10:00 a.m. and 3:00 p.m. Copies of such Commission (‘‘Commission’’), pursuant Instituting Proceedings’’). Specifically, the
filing also will be available for Commission instituted proceedings to allow for
asabaliauskas on DSK5VPTVN1PROD with NOTICES
to Section 19(b)(1) of the Securities additional analysis of the proposed rule change’s
inspection and copying at the principal Exchange Act of 1934 (‘‘Act’’) 1 and Rule consistency with Section 6(b)(5) of the Act, which
offices of the Exchange. All comments 19b–4 thereunder,2 a proposed rule requires, among other things, that the rules of a
received will be posted without change; change to amend NYSE Arca Equities national securities exchange be ‘‘designed to
the Commission does not edit personal prevent fraudulent and manipulative acts and
Rule 5.2(j)(3), Commentary .02 relating practices, to promote just and equitable principles
identifying information from of trade,’’ and ‘‘to protect investors and the public
submissions. You should submit only 18 17 CFR 200.30–3(a)(12), (59). interest.’’ See id.
information that you wish to make 1 15 U.S.C. 78s(b)(1). 8 15 U.S.C. 78s(b)(2).
available publicly. All submissions 2 17 CFR 240.19b–4. 9 See supra note 3.
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![46628 Federal Register / Vol. 80, No. 150 / Wednesday, August 5, 2015 / Notices
The Commission finds it appropriate II. Self-Regulatory Organization’s NYSE BBO data feed includes, and
to designate a longer period within Statement of the Purpose of, and would continue to include, the best bids
which to issue an order approving or Statutory Basis for, the Proposed Rule and offers for all securities that are
disapproving the proposed rule change Change traded on the Exchange for which NYSE
so that it has sufficient time to consider In its filing with the Commission, the reports quotes under the Consolidated
the proposed rule change. self-regulatory organization included Quotation (‘‘CQ’’) Plan for inclusion in
Accordingly, the Commission, statements concerning the purpose of, the CQ Plan’s consolidated quotation
pursuant to Section 19(b)(2) of the and basis for, the proposed rule change information data stream.5
Act,10 designates October 2, 2015 as the and discussed any comments it received Second, the Exchange currently
date by which the Commission shall on the proposed rule change. The text reports to the CTA and distributes on a
either approve or disapprove the of those statements may be examined at real-time basis via NYSE Trades the
proposed rule change (File No. SR– the places specified in Item IV below. real-time NYSE last sale price
NYSEArca–2015–01). The Exchange has prepared summaries, information based on the completed
set forth in sections A, B, and C below, trade of an arriving order. For example,
For the Commission, by the Division of if an arriving order of 1000 shares trades
Trading and Markets, pursuant to delegated of the most significant parts of such
statements. with five resting orders of 200 shares
authority.11
each, the Exchange reports a completed
Robert W. Errett, A. Self-Regulatory Organization’s trade of 1000 shares. The Exchange
Deputy Secretary. Statement of the Purpose of, and proposes to distribute NYSE last sale
[FR Doc. 2015–19135 Filed 8–4–15; 8:45 am] Statutory Basis for, the Proposed Rule information in NYSE Trades in a format
BILLING CODE 8011–01–P Change that would be based on the individual
1. Purpose resting orders that comprise the
completed trade. In the example above,
SECURITIES AND EXCHANGE The Exchange proposes to amend the the Exchange would distribute via
COMMISSION NYSE Trades market data feed product NYSE Trades the real-time NYSE last
offering. sale information of five executions of
NYSE Trades is an NYSE-only last- 200 shares each, with the same time
[Release No. 34–75556; File No. SR–NYSE– sale market data feed. NYSE Trades
2015–31] stamp for each individual component of
currently allows vendors, broker-dealers the trade. These five transactions would
Self-Regulatory Organizations; New and others to make available on a real- have the same time stamp and would
York Stock Exchange LLC; Notice of time basis the same last sale information comprise the same information that is
Filing of Proposed Rule Change that the Exchange reports under the being provided to the CTA regarding the
Amending the NYSE Trades Market Consolidated Tape Association (‘‘CTA’’) completed trade, which would not
Data Product Offering Plan for inclusion in the CTA Plan’s change. The Exchange would continue
consolidated data streams. Specifically, to make NYSE last sale information
July 30, 2015. the NYSE Trades feed includes, for each available through NYSE Trades
security traded on the Exchange, the immediately after it provides last sale
Pursuant to Section 19(b)(1) of the
real-time last sale price, time and size information to the processor under the
Securities Exchange Act of 1934
information and bid/ask quotations and CTA Plan.
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
a stock summary message. The stock The Exchange expects to offer both
notice is hereby given that on July 16,
summary message updates every minute the current NYSE Trades data product
2015, New York Stock Exchange LLC
and includes NYSE’s opening price, and the proposed NYSE Trades data
(the ‘‘Exchange’’ or ‘‘NYSE’’) filed with
high price, low price, closing price, and product for a limited transition period.
the Securities and Exchange
cumulative volume for the security.3 After the transition period, the
Commission (‘‘Commission’’) the
The Exchange has determined to Exchange would stop offering the
proposed rule change as described in
modify the data content of NYSE Trades current NYSE Trades data product and
Items I, II, and III below, which Items
to remove the bid/ask data and to offer only the NYSE Trades data product
have been prepared by the self-
provide the individual orders that make proposed in this filing. The Exchange
regulatory organization. The
up each reported trade. would announce the transition dates in
Commission is publishing this notice to First, as noted above, the NYSE
solicit comments on the proposed rule advance. There would be no change to
Trades data feed currently includes the fees for NYSE Trades in connection
change from interested persons. related bid/ask information at the time with the proposed changes.
I. Self-Regulatory Organization’s of each reported trade. The Exchange
Statement of the Terms of Substance of proposes to remove this limited bid/ask 2. Statutory Basis
the Proposed Rule Change information from the NYSE Trades feed, The proposed rule change is
thereby focusing the NYSE Trades feed consistent with Section 6(b) 6 of the Act,
The Exchange proposes to amend the on NYSE last sale information. This in general, and furthers the objectives of
NYSE Trades market data product change would streamline the NYSE Section 6(b)(5) 7 of the Act, in particular,
offering. The text of the proposed rule Trades content, as well as align NYSE in that it is designed to prevent
change is available on the Exchange’s Trades content with that of last sale data fraudulent and manipulative acts and
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Web site at www.nyse.com, at the feeds offered by other exchanges.4 The practices, to promote just and equitable
principal office of the Exchange, and at
principles of trade, to foster cooperation
the Commission’s Public Reference 3 See Securities Exchange Act Release Nos. 62187
and coordination with persons engaged
Room. (May 27, 2010), 75 FR 31500 (June 3, 2010) (SR–
NYSEAmex–2010–35), 70065 (July 30, 2013), 78 FR
5 See Securities Exchange Act Release No. 72326
47450 (Aug. 5, 2013) (SR–NYSEMKT–2013–64) and
10 15 U.S.C. 78s(b)(2). 69273 (April 2, 2013), 78 FR 20969 (April 8, 2013) (June 5, 2014), 79 FR 33605 (June 11, 2014) (SR–
11 17 CFR 200.30–3(a)(57). NYSEMKT–2014–49).
(SR–NYSEMKT–2013–30).
1 15 U.S.C. 78s(b)(1). 4 See NASDAQ Rule 7039 (Nasdaq Last Sale) and 6 15 U.S.C. 78f(b).
2 17 CFR 240.19b–4. BATS Rule 11.22(g) (BATS Last Sale). 7 15 U.S.C. 78f(b)(5).
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Document Created: 2018-02-23 10:53:19
Document Modified: 2018-02-23 10:53:19
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 46627 |
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