80 FR 66083 - Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Limit Up-Limit Down Obvious Error Pilot
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 208 (October 28, 2015)
Federal Register Volume 80, Issue 208 (October 28, 2015)
| Page Range | 66083-66085 | |
| FR Document | 2015-27348 |
[Federal Register Volume 80, Number 208 (Wednesday, October 28, 2015)] [Notices] [Pages 66083-66085] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27348] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76228; File No. SR-ISEGemini-2015-22] Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Limit Up-Limit Down Obvious Error Pilot October 22, 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 October 20, 2015, ISE Gemini, LLC (the ``Exchange'' or ``ISE Gemini'') filed with the Securities and Exchange Commission the proposed rule change, as described in Items I and II below, which items have been prepared by the self-regulatory organization. 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. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change ISE Gemini proposes to extend a pilot program under .01 of Supplementary Material to Rule 720 regarding obvious errors during Limit and Straddle States in securities that underlie options traded on the Exchange and proposes to further harmonize a related provision in its rulebook. The text of the proposed rule change is available on the Exchange's Web site (http://www.ise.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 self-regulatory organization 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 self-regulatory organization has prepared summaries, set forth in sections A, B and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose On July 26, 2013,\3\ the Commission approved the Exchange's Form 1 application for registration as a national securities exchange. The Form 1 application included a rule designed to address certain issues related to the Plan to Address Extraordinary Market Volatility Pursuant to Rule 608 of Regulation NMS under the Act (the ``Limit Up-Limit Down Plan'' or the ``Plan'').\4\ The rules adopted in that application established a pilot program to exclude transactions executed during a Limit State \5\ or Straddle State \6\ from the obvious error provisions of Rule 720. On February 19, 2015, the Exchange filed to extend this pilot program to its current end date of October 23, 2015.\7\ The purpose of this filing is to extend the effectiveness of the pilot program to coincide with the proposed extension of the Limit Up-Limit Down Plan, including any extensions to the pilot period for the Plan.\8\ The Exchange notes that nothing in .01 of Supplementary Material to Rule 720 prevents such execution from [[Page 66084]] being reviewed on an Official's \9\ own motion pursuant to sub- paragraph (c)(3) of this Rule, or a bust or adjust pursuant to paragraphs (e) through (j) of this Rule. --------------------------------------------------------------------------- \3\ The Securities and Exchange Commission granted the Exchange's application for registration as a national securities exchange on July 26, 2013. See Securities Exchange Act Release No. Release No. 70050 (July 26, 2013), 78 FR 46622 (Aug. 1, 2013). \4\ See Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 33498 (June 6, 2012) (the ``Limit Up-Limit Down Release''). \5\ The term ``Limit State'' means the condition when the national best bid or national best offer for an underlying security equals an applicable price band, as determined by the primary listing exchange for the underlying security. See Rule 703A. \6\ The term ``Straddle State'' means the condition when the national best bid or national best offer for an underlying security is non-executable, as determined by the primary listing exchange for the underlying security, but the security is not in a Limit State. See Rule 703A. \7\ Securities Exchange Act Release No. 74311 (February 19, 2015), 80 FR 10175 (February 25, 2015) (SR-ISE Gemini-2015-05). \8\ Currently, the pilot period for the Plan is proposed to be extended to April 22, 2016. See Exchange Act Release No. 75917 (September 14, 2015), 80 FR 56515 (September 18, 2015) (Ninth Amendment to the Limit-Up Limit-Down Plan). \9\ For purposes of Rule 720, an Official is an Officer of the Exchange or such other employee designee of the Exchange that is trained in the application of this Rule. --------------------------------------------------------------------------- The Exchange believes the benefits to market participants from this provision should continue on a pilot basis. The Exchange continues to believe that adding certainty to the execution of orders in Limit or Straddle States will encourage market participants to continue to provide liquidity to the Exchange, and, thus, promote a fair and orderly market during these periods. Barring this provision, the obvious error provisions of Rule 720 would likely apply in many instances during Limit and Straddle States. The Exchange believes that continuing the pilot will protect against any unanticipated consequences in the options markets during a Limit or Straddle State. Thus, the Exchange believes that the protections of current rule should continue while the industry gains further experience operating the Plan. In connection with this proposed extension, each month the Exchange shall provide to the Commission, and the public, a dataset containing the data for each Straddle and Limit State in optionable stocks that had at least one trade on the Exchange. For each trade on the Exchange, the Exchange will provide (a) the stock symbol, option symbol, time at the start of the Straddle or Limit State, an indicator for whether it is a Straddle or Limit State, and (b) for the trades on the Exchange, the executed volume, time-weighted quoted bid-ask spread, time-weighted average quoted depth at the bid, time-weighted average quoted depth at the offer, high execution price, low execution price, number of trades for which a request for review for error was received during Straddle and Limit States, an indicator variable for whether those options outlined above have a price change exceeding 30% during the underlying stock's Limit or Straddle State compared to the last available option price as reported by OPRA before the start of the Limit or Straddle State (1 if observe 30% and 0 otherwise), and another indicator variable for whether the option price within five minutes of the underlying stock leaving the Limit or Straddle State (or halt if applicable) is 30% away from the price before the start of the Limit or Straddle State. In addition, the Exchange will provide to the Commission, and the public, no later than five months prior to the pilot expiration, including any extension, assessments relating to the impact of the operation of the obvious error rules during Limit and Straddle States including: (1) An evaluation of the statistical and economic impact of Limit and Straddle States on liquidity and market quality in the options markets, and (2) an assessment of whether the lack of obvious error rules in effect during the Straddle and Limit States are problematic. This means that, if the Plan extension is approved, the next data assessment will be due no later than December 18, 2015. Finally, the Exchange proposes to delete section (d) of Rule 703A to harmonize its rulebook. Earlier this year, the options exchanges harmonized their rules relating to the adjustment and nullification of erroneous options transactions as well as a specific provision related to coordination in connection with large-scale events involving erroneous options transactions.\10\ The Exchange inadvertently did not remove section (d) to Rule 703A from its rulebook in this filing. This section (d) duplicates .01 of Supplementary Material to Rule 720, and as such, the Exchange proposes to delete it. --------------------------------------------------------------------------- \10\ Securities Exchange Act Release No. 74897 (May 7, 2015), 80 FR 27415 (May 13, 2015) (SR-ISE Gemini-2015-11). --------------------------------------------------------------------------- 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.\11\ In particular, the proposal is consistent with Section 6(b)(5) of the Act,\12\ because it is designed to promote just and equitable principles of trade, remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \13\ requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b). \12\ 15 U.S.C. 78f(b)(5). \13\ Id. --------------------------------------------------------------------------- In particular, the Exchange further believes that it is necessary and appropriate in the interest of promoting fair and orderly markets to exclude transactions executed during a Limit or Straddle State from certain aspects of Rule 720. The Exchange believes the application of the current rule will be impracticable given the lack of a reliable national best bid or offer in the options market during Limit and Straddle States, and that the resulting actions (i.e., nullified trades or adjusted prices) may not be appropriate given market conditions. Extending this pilot to coincide with the Limit Up-Limit Down Plan would ensure that limit orders that are filled during a Limit or Straddle State would have certainty of execution in a manner that promotes just and equitable principles of trade, removes impediments to, and perfects the mechanism of a free and open market and a national market system. Thus, the Exchange believes that the protections of the pilot should continue while the industry gains further experience operating the Plan. Finally, the Exchange proposes to delete section (d) of Rule 703A to harmonize its rulebook to prevent investor confusion. 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. Specifically, the Exchange believes that, by extending the expiration of the pilot, the proposed rule change will allow for further analysis of the pilot and a determination of how the pilot shall be structured in the future. In doing so, the proposed rule change will also serve to promote regulatory clarity and consistency, thereby reducing burdens on the marketplace and facilitating investor protection. 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 unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the 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 if consistent with the protection of investors and the public interest, the proposed rule change has become [[Page 66085]] effective pursuant to Section 19(b)(3)(A) of the Act \14\ and Rule 19b- 4(f)(6)(iii) thereunder.\15\ --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 17 CFR 240.19b-4(f)(6)(iii). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the text of 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 asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest, as it will allow the obvious error pilot program to continue uninterrupted while the industry gains further experience operating under the Plan, and avoid any investor confusion that could result from a temporary interruption in the pilot program. For this reason, the Commission designates the proposed rule change to be operative upon filing.\16\ --------------------------------------------------------------------------- \16\ For purposes only of waiving the 30-day operative delay, the Commission has also 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 summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or 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 proposed rule change 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-ISEGemini-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-ISEGemini-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 also will 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-ISEGemini-2015-22, and should be submitted on or before November 18, 2015. --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ Brent J. Fields, Secretary. [FR Doc. 2015-27348 Filed 10-27-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Notices 66083
exceeds the limit of section Fund acquires securities of another statements concerning the purpose of,
12(d)(1)(A)(i) of the Act, setting forth investment company pursuant to and basis for, the proposed rule change
from whom the securities were exemptive relief from the Commission and discussed any comments it received
acquired, the identity of the permitting the Underlying Fund to on the proposed rule change. The text
underwriting syndicate’s members, the acquire securities of one or more of these statements may be examined at
terms of the purchase, and the investment companies for short term the places specified in Item IV below.
information or materials upon which cash management purposes. The self-regulatory organization has
the determinations of the Board of the For the Commission, by the Division of prepared summaries, set forth in
Underlying Fund were made. Investment Management, under delegated sections A, B and C below, of the most
9. Before investing in an Underlying authority. significant aspects of such statements.
Fund in excess of the limit in section Brent J. Fields,
12(d)(1)(A), a Fund of Funds and the A. Self-Regulatory Organization’s
Secretary. Statement of the Purpose of, and
Trust will execute a FOF Participation [FR Doc. 2015–27372 Filed 10–27–15; 8:45 am]
Agreement stating without limitation Statutory Basis for, the Proposed Rule
that their respective boards of directors
BILLING CODE 8011–01–P Change
or trustees and their investment 1. Purpose
advisers, or trustee and Sponsor, as SECURITIES AND EXCHANGE
applicable, understand the terms and On July 26, 2013,3 the Commission
COMMISSION approved the Exchange’s Form 1
conditions of the order, and agree to
fulfill their responsibilities under the [Release No. 34–76228; File No. SR– application for registration as a national
order. At the time of its investment in ISEGemini–2015–22] securities exchange. The Form 1
Underlying Fund Shares in excess of the application included a rule designed to
Self-Regulatory Organizations; ISE address certain issues related to the Plan
limit in section 12(d)(1)(A)(i), a Fund of
Gemini, LLC; Notice of Filing and to Address Extraordinary Market
Funds will notify the Underlying Fund
Immediate Effectiveness of Proposed Volatility Pursuant to Rule 608 of
of the investment. At such time, the
Rule Change to Extend the Limit Up- Regulation NMS under the Act (the
Fund of Funds will also transmit to the
Limit Down Obvious Error Pilot ‘‘Limit Up-Limit Down Plan’’ or the
Underlying Fund a list of the names of
each Fund of Funds Affiliate and October 22, 2015. ‘‘Plan’’).4 The rules adopted in that
Underwriting Affiliate. The Fund of Pursuant to Section 19(b)(1) of the application established a pilot program
Funds will notify the Underlying Fund Securities Exchange Act of 1934 (the to exclude transactions executed during
of any changes to the list of the names ‘‘Act’’),1 and Rule 19b–4 thereunder,2 a Limit State 5 or Straddle State 6 from
as soon as reasonably practicable after a notice is hereby given that on October the obvious error provisions of Rule
change occurs. The Underlying Fund 20, 2015, ISE Gemini, LLC (the 720. On February 19, 2015, the
and the Fund of Funds will maintain ‘‘Exchange’’ or ‘‘ISE Gemini’’) filed with Exchange filed to extend this pilot
and preserve a copy of the order, the the Securities and Exchange program to its current end date of
FOF Participation Agreement, and the Commission the proposed rule change, October 23, 2015.7 The purpose of this
list with any updated information for as described in Items I and II below, filing is to extend the effectiveness of
the duration of the investment and for which items have been prepared by the the pilot program to coincide with the
a period of not less than six years self-regulatory organization. The proposed extension of the Limit Up-
thereafter, the first two years in an Commission is publishing this notice to Limit Down Plan, including any
easily accessible place. solicit comments on the proposed rule extensions to the pilot period for the
10. Before approving any advisory change from interested persons. Plan.8 The Exchange notes that nothing
contract under section 15 of the Act, the in .01 of Supplementary Material to
board of directors or trustees of each I. Self-Regulatory Organization’s Rule 720 prevents such execution from
Investing Management Company Statement of the Terms of the Substance
including a majority of the disinterested of the Proposed Rule Change 3 The Securities and Exchange Commission
directors or trustees, will find that the granted the Exchange’s application for registration
ISE Gemini proposes to extend a pilot as a national securities exchange on July 26, 2013.
advisory fees charged under such program under .01 of Supplementary See Securities Exchange Act Release No. Release
contract are based on services provided Material to Rule 720 regarding obvious No. 70050 (July 26, 2013), 78 FR 46622 (Aug. 1,
that will be in addition to, rather than errors during Limit and Straddle States 2013).
4 See Securities Exchange Act Release No. 67091
duplicative of, the services provided in securities that underlie options (May 31, 2012), 77 FR 33498 (June 6, 2012) (the
under the advisory contract(s) of any traded on the Exchange and proposes to ‘‘Limit Up-Limit Down Release’’).
Underlying Fund in which the Investing further harmonize a related provision in 5 The term ‘‘Limit State’’ means the condition
Management Company may invest. its rulebook. The text of the proposed when the national best bid or national best offer for
These findings and their basis will be rule change is available on the an underlying security equals an applicable price
fully recorded in the minute books of band, as determined by the primary listing
Exchange’s Web site (http:// exchange for the underlying security. See Rule
the appropriate Investing Management www.ise.com), at the principal office of 703A.
Company. the Exchange, and at the Commission’s 6 The term ‘‘Straddle State’’ means the condition
11. Any sales charges and/or service Public Reference Room. when the national best bid or national best offer for
fees charged with respect to shares of a an underlying security is non-executable, as
Fund of Funds will not exceed the II. Self-Regulatory Organization’s determined by the primary listing exchange for the
Statement of the Purpose of, and underlying security, but the security is not in a
mstockstill on DSK4VPTVN1PROD with NOTICES
limits applicable to a fund of funds as Limit State. See Rule 703A.
set forth in NASD Conduct Rule 2830. Statutory Basis for, the Proposed Rule 7 Securities Exchange Act Release No. 74311
12. No Underlying Fund will acquire Change (February 19, 2015), 80 FR 10175 (February 25,
securities of an investment company or In its filing with the Commission, the 2015) (SR–ISE Gemini–2015–05).
8 Currently, the pilot period for the Plan is
company relying on section 3(c)(1) or self-regulatory organization included proposed to be extended to April 22, 2016. See
3(c)(7) of the Act in excess of the limits Exchange Act Release No. 75917 (September 14,
contained in section 12(d)(1)(A) of the 1 15 U.S.C. 78s(b)(1). 2015), 80 FR 56515 (September 18, 2015) (Ninth
Act, except to the extent the Underlying 2 17 CFR 240.19b–4. Amendment to the Limit-Up Limit-Down Plan).
VerDate Sep<11>2014 19:16 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 E:\FR\FM\28OCN1.SGM 28OCN1](https://thefederalregister.org/doc/80_FR_66291/page/1.svg)
![Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Notices 66085
effective pursuant to Section 19(b)(3)(A) All submissions should refer to File ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
of the Act 14 and Rule 19b–4(f)(6)(iii) Number SR–ISEGemini–2015–22. This notice is hereby given that, on October
thereunder.15 file number should be included on the 8, 2015, NYSE Arca, Inc. (the
The Exchange has asked the subject line if email is used. To help the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
Commission to waive the 30-day Commission process and review your the Securities and Exchange
operative delay so that the proposal may comments more efficiently, please use Commission (the ‘‘Commission’’) the
become operative immediately upon only one method. The Commission will proposed rule change as described in
filing. The Commission believes that post all comments on the Commission’s Items I and II below, which Items have
waiving the 30-day operative delay is Internet Web site (http://www.sec.gov/ been prepared by the self-regulatory
consistent with the protection of rules/sro.shtml). Copies of the organization. The Commission is
investors and the public interest, as it submission, all subsequent publishing this notice to solicit
will allow the obvious error pilot amendments, all written statements comments on the proposed rule change
program to continue uninterrupted with respect to the proposed rule from interested persons.
while the industry gains further change that are filed with the
experience operating under the Plan, I. Self-Regulatory Organization’s
Commission, and all written Statement of the Terms of Substance of
and avoid any investor confusion that communications relating to the
could result from a temporary the Proposed Rule Change
proposed rule change between the
interruption in the pilot program. For Commission and any person, other than The Exchange proposes to change a
this reason, the Commission designates those that may be withheld from the representation regarding the
the proposed rule change to be operative public in accordance with the AdvisorShares WCM/BNY Mellon
upon filing.16 provisions of 5 U.S.C. 552, will be Focused Growth ADR ETF’s holdings.
At any time within 60 days of the available for Web site viewing and Shares of the WCM/BNY Mellon
filing of the proposed rule change, the printing in the Commission’s Public Focused Growth ADR ETF have been
Commission summarily may Reference Room, 100 F Street NE., approved for listing and trading on the
temporarily suspend such rule change if Washington, DC 20549 on official Exchange under NYSE Arca Equities
it appears to the Commission that such business days between the hours of Rule 8.600. The text of the proposed
action is necessary or appropriate in the 10:00 a.m. and 3:00 p.m. Copies of such rule change is available on the
public interest, for the protection of filing also will be available for Exchange’s Web site at www.nyse.com,
investors, or otherwise in furtherance of inspection and copying at the principal at the principal office of the Exchange,
the purposes of the Act. If the and at the Commission’s Public
office of the Exchange. All comments
Commission takes such action, the Reference Room.
received will be posted without change;
Commission shall institute proceedings the Commission does not edit personal II. Self-Regulatory Organization’s
to determine whether the proposed rule
identifying information from Statement of the Purpose of, and
should be approved or disapproved.
submissions. You should submit only Statutory Basis for, the Proposed Rule
IV. Solicitation of Comments information that you wish to make Change
Interested persons are invited to available publicly. All submissions In its filing with the Commission, the
submit written data, views, and should refer to File Number SR– self-regulatory organization included
arguments concerning the foregoing, ISEGemini–2015–22, and should be statements concerning the purpose of,
including whether the proposed rule submitted on or before November 18, and basis for, the proposed rule change
change is consistent with the Act. 2015. and discussed any comments it received
Comments may be submitted by any of For the Commission, by the Division of on the proposed rule change. The text
the following methods: Trading and Markets, pursuant to delegated of those statements may be examined at
authority.17 the places specified in Item IV below.
Electronic Comments
Brent J. Fields, The Exchange has prepared summaries,
• Use the Commission’s Internet Secretary. set forth in sections A, B, and C below,
comment form (http://www.sec.gov/ [FR Doc. 2015–27348 Filed 10–27–15; 8:45 am] of the most significant parts of such
rules/sro.shtml); or statements.
• Send an email to rule-comments@
BILLING CODE 8011–01–P
sec.gov. Please include File Number SR– A. Self-Regulatory Organization’s
ISEGemini–2015–22 on the subject line. Statement of the Purpose of, and the
SECURITIES AND EXCHANGE Statutory Basis for, the Proposed Rule
Paper Comments COMMISSION Change
• Send paper comments in triplicate to 1. Purpose
Secretary, Securities and Exchange [Release No. 34–76224; File No. SR–
Commission, 100 F Street NE., NYSEArca–2015–94] The Commission has approved a
Washington, DC 20549–1090. proposed rule change relating to listing
Self-Regulatory Organizations; NYSE and trading on the Exchange of shares
14 15 U.S.C. 78s(b)(3)(A).
Arca, Inc.; Notice of Filing and (‘‘Shares’’) of the AdvisorShares WCM/
15 17 CFR 240.19b–4(f)(6)(iii). As required under Immediate Effectiveness of Proposed BNY Mellon Focused Growth ADR ETF
Rule 19b–4(f)(6)(iii), the Exchange provided the Rule Change Regarding the (the ‘‘Fund’’) under NYSE Arca Equities
Commission with written notice of its intent to file AdvisorShares WCM/BNY Mellon
the proposed rule change, along with a brief
Rule 8.600,4 which governs the listing
mstockstill on DSK4VPTVN1PROD with NOTICES
description and the text of the proposed rule
Focused Growth ADR ETF’s Holdings
2 15 U.S.C. 78a.
change, at least five business days prior to the date
October 22, 2015. 3 17
of filing of the proposed rule change, or such CFR 240.19b–4.
shorter time as designated by the Commission. Pursuant to Section 19(b)(1) 1 of the 4 See Securities Exchange Act Release No. 62502
16 For purposes only of waiving the 30-day (July 15, 2010), 75 FR 42471 (July 21, 2010) (SR–
Securities Exchange Act of 1934 (the
operative delay, the Commission has also NYSEArca–2010–57) (the ‘‘Prior Order’’). The
considered the proposed rule’s impact on notice with respect to the Prior Order was
17 17 CFR 200.30–3(a)(12).
efficiency, competition, and capital formation. See published in Securities Exchange Act Release No.
15 U.S.C. 78c(f). 1 15 U.S.C. 78s(b)(1). Continued
VerDate Sep<11>2014 19:16 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 E:\FR\FM\28OCN1.SGM 28OCN1](https://thefederalregister.org/doc/80_FR_66291/page/3.svg)
Document Created: 2018-02-27 08:58:00
Document Modified: 2018-02-27 08:58:00
| 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 66083 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR