80 FR 70044 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendments No. 1 and 3, Relating to Listing and Trading of Shares of the Guggenheim Total Return Bond ETF Under NYSE Arca Equities Rule 8.600
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 218 (November 12, 2015)
Federal Register Volume 80, Issue 218 (November 12, 2015)
| Page Range | 70044-70045 | |
| FR Document | 2015-28682 |
[Federal Register Volume 80, Number 218 (Thursday, November 12, 2015)] [Notices] [Pages 70044-70045] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-28682] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76362; File No. SR-NYSEArca-2015-73] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendments No. 1 and 3, Relating to Listing and Trading of Shares of the Guggenheim Total Return Bond ETF Under NYSE Arca Equities Rule 8.600 November 5, 2015. On September 1, 2015, NYSE Arca, Inc. (``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 shares (``Shares'') of the Guggenheim Total Return Bond ETF (``Fund''). On September 15, 2015, the Exchange submitted Amendment No. 1 to the proposal. The proposed rule change, as modified by Amendment No. 1, was published for comment in the Federal Register on September 22, 2015.\3\ On September 22, 2015, the Exchange submitted Amendment No. 3 to the proposed rule change.\4\ The Commission received no comment letters on the proposed rule change, as modified by Amendment No. 1. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 75930 (September 16, 2015), 80 FR 57251. \4\ On September 21, 2015, the Exchange submitted and withdrew Amendment No. 2 to the proposal. In Amendment No. 3, the Exchange clarified certain representations regarding the availability of quotation, last sale, and pricing information for the Shares and the instruments in which the Fund may invest. Amendment No. 3 is available at http://www.sec.gov/comments/sr-nysearca-2015-73/nysearca201573-2.pdf. --------------------------------------------------------------------------- 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 Commission is extending this 45-day time period. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78s(b)(2). --------------------------------------------------------------------------- The Commission finds that it is appropriate to designate a longer period within which to take action on the [[Page 70045]] 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,\6\ designates December 21, 2015, as the date by which the Commission should either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR-NYSEArca-2015-73), as modified by Amendments No. 1 and 3. --------------------------------------------------------------------------- \6\ Id. \7\ 17 CFR 200.30-3(a)(31). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\7\ Robert W. Errett, Deputy Secretary. [FR Doc. 2015-28682 Filed 11-10-15; 8:45 am] BILLING CODE 8011-01-P
![70044 Federal Register / Vol. 80, No. 218 / Thursday, November 12, 2015 / Notices
it was filed, or such shorter time as the Paper Comments SECURITIES AND EXCHANGE
Commission may designate, if COMMISSION
consistent with the protection of • Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities [Release No. 34–76362; File No. SR–
investors and the public interest, the NYSEArca–2015–73]
proposed rule change has become and Exchange Commission, 100 F Street
effective pursuant to Section 19(b)(3)(A) NE., Washington, DC 20549–1090. Self-Regulatory Organizations; NYSE
of the Act and Rule 19b–4(f)(6)(iii) All submissions should refer to File Arca, Inc.; Notice of Designation of a
thereunder. A proposed rule change Longer Period for Commission Action
Number SR–FINRA–2015–046. This file
filed under Rule 19b–4(f)(6) 18 normally on a Proposed Rule Change, as
number should be included on the
does not become operative prior to 30 Modified by Amendments No. 1 and 3,
days after the date of the filing. subject line if email is used. To help the
Commission process and review your Relating to Listing and Trading of
However, pursuant to Rule 19b– Shares of the Guggenheim Total
4(f)(6)(iii),19 the Commission may comments more efficiently, please use
Return Bond ETF Under NYSE Arca
designate a shorter time if such action only one method. The Commission will
Equities Rule 8.600
is consistent with the protection of post all comments on the Commission’s
investors and the public interest. Internet Web site (http://www.sec.gov/ November 5, 2015.
The Exchange has asked the rules/sro.shtml). Copies of the On September 1, 2015, NYSE Arca,
Commission to waive the 30-day submission, all subsequent Inc. (‘‘Exchange’’) filed with the
operative delay so that the proposal may amendments, all written statements Securities and Exchange Commission
become operative immediately upon with respect to the proposed rule (‘‘Commission’’), pursuant to Section
filing. The Commission believes that change that are filed with the 19(b)(1) of the Securities Exchange Act
waiving the 30-day operative delay is Commission, and all written of 1934 (‘‘Act’’) 1 and Rule 19b–4
consistent with the protection of communications relating to the thereunder,2 a proposed rule change to
investors and the public interest as it proposed rule change between the list and trade shares (‘‘Shares’’) of the
will allow the Exchange to incorporate Commission and any person, other than Guggenheim Total Return Bond ETF
changes required under Regulation SCI, (‘‘Fund’’). On September 15, 2015, the
those that may be withheld from the
such as establishing standards for Exchange submitted Amendment No. 1
public in accordance with the
designating BC/DR participants, prior to to the proposal. The proposed rule
provisions of 5 U.S.C. 552, will be change, as modified by Amendment No.
the November 3, 2015 compliance date. available for Web site viewing and
Accordingly, the Commission 1, was published for comment in the
printing in the Commission’s Public Federal Register on September 22,
designates the proposed rule change to
Reference Room, 100 F Street NE., 2015.3 On September 22, 2015, the
be operative upon filing.20
At any time within 60 days of the Washington, DC 20549, on official Exchange submitted Amendment No. 3
filing of the proposed rule change, the business days between the hours of 10 to the proposed rule change.4 The
Commission summarily may a.m. and 3 p.m. Copies of such filing Commission received no comment
temporarily suspend such rule change if also will be available for inspection and letters on the proposed rule change, as
it appears to the Commission that such copying at the principal office of modified by Amendment No. 1.
action is necessary or appropriate in the FINRA. All comments received will be Section 19(b)(2) of the Act 5 provides
public interest, for the protection of posted without change; the Commission that, within 45 days of the publication
investors, or otherwise in furtherance of does not edit personal identifying of notice of the filing of a proposed rule
the purposes of the Act. If the information from submissions. You change, or within such longer period up
Commission takes such action, the should submit only information that to 90 days as the Commission may
Commission shall institute proceedings you wish to make available publicly. All designate if it finds such longer period
to determine whether the proposed rule submissions should refer to File to be appropriate and publishes its
should be approved or disapproved. Number SR–FINRA–2015–046 and reasons for so finding or as to which the
should be submitted on or before self-regulatory organization consents,
IV. Solicitation of Comments the Commission shall either approve the
December 3, 2015.
Interested persons are invited to proposed rule change, disapprove the
submit written data, views and For the Commission, by the Division of proposed rule change, or institute
arguments concerning the foregoing, Trading and Markets, pursuant to delegated proceedings to determine whether the
including whether the proposed rule authority.21 proposed rule change should be
change is consistent with the Act. Robert W. Errett, disapproved. The Commission is
Comments may be submitted by any of Deputy Secretary. extending this 45-day time period.
the following methods: [FR Doc. 2015–28681 Filed 11–10–15; 8:45 am] The Commission finds that it is
appropriate to designate a longer period
Electronic Comments BILLING CODE 8011–01–P
within which to take action on the
• Use the Commission’s Internet
comment form (http://www.sec.gov/ 1 15 U.S.C. 78s(b)(1).
rules/sro.shtml); or 2 17 CFR 240.19b–4.
• Send an email to rule-comments@ 3 See Securities Exchange Act Release No. 75930
sec.gov. Please include File Number SR– (September 16, 2015), 80 FR 57251.
4 On September 21, 2015, the Exchange submitted
mstockstill on DSK4VPTVN1PROD with NOTICES
FINRA–2015–046 on the subject line. and withdrew Amendment No. 2 to the proposal.
In Amendment No. 3, the Exchange clarified certain
18 17 CFR 240.19b–4(f)(6). representations regarding the availability of
19 17 CFR 240.19b–4(f)(6)(iii). quotation, last sale, and pricing information for the
20 For purposes only of waiving the 30-day Shares and the instruments in which the Fund may
operative delay, the Commission has also invest. Amendment No. 3 is available at http://
considered the proposed rule’s impact on www.sec.gov/comments/sr-nysearca-2015-73/
efficiency, competition, and capital formation. See nysearca201573-2.pdf.
15 U.S.C. 78c(f). 21 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78s(b)(2).
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![Federal Register / Vol. 80, No. 218 / Thursday, November 12, 2015 / Notices 70045
proposed rule change so that it has connection with Regulation Systems disruption.’’ 6 The Exchange has put
sufficient time to consider the proposed Compliance and Integrity (‘‘Regulation extensive time and resources toward
rule change. Accordingly, the SCI’’).5 planning for system failures and already
Commission, pursuant to Section The text of the proposed rule change maintains robust BC/DR Plans
19(b)(2) of the Act,6 designates is available on the Exchange’s Web site consistent with the Rule. As set forth
December 21, 2015, as the date by at http://nasdaq.cchwallstreet.com, at below, in connection with Regulation
which the Commission should either the principal office of the Exchange, and SCI, the Exchange is proposing to
approve or disapprove or institute at the Commission’s Public Reference require certain Members to participate
proceedings to determine whether to Room. in testing of the operation of the
disapprove the proposed rule change Exchange’s BC/DR Plans.
II. Self-Regulatory Organization’s With respect to an SCI entity’s BC/DR
(File Number SR–NYSEArca–2015–73),
Statement of the Purpose of, and Plans, including its backup systems,
as modified by Amendments No. 1 and
Statutory Basis for, the Proposed Rule paragraph (a) of Rule 1004 of Regulation
3.
Change SCI requires each SCI entity to:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated In its filing with the Commission, the ‘‘[e]stablish standards for the
authority.7 Exchange included statements designation of those members or
Robert W. Errett, concerning the purpose of and basis for participants that the SCI entity
Deputy Secretary. the proposed rule change and discussed reasonably determines are, taken as a
any comments it received on the whole, the minimum necessary for the
[FR Doc. 2015–28682 Filed 11–10–15; 8:45 am]
proposed rule change. The text of these maintenance of fair and orderly markets
BILLING CODE 8011–01–P
statements may be examined at the in the event of the activation of such
places specified in Item IV below. The plans.’’ 7 Paragraph (b) of Rule 1004 of
SECURITIES AND EXCHANGE Exchange has prepared summaries, set Regulation SCI further requires each SCI
COMMISSION forth in sections A, B, and C below, of entity to ‘‘[d]esignate members or
the most significant aspects of such participants pursuant to the standards
[Release No. 34–76368; File No. SR– statements. established in paragraph (a) of [Rule
NASDAQ–2015–134] 1004] and require participation by such
A. Self-Regulatory Organization's designated members or participants in
Self-Regulatory Organizations; The Statement of the Purpose of, and scheduled functional and performance
NASDAQ Stock Market LLC; Notice of Statutory Basis for, the Proposed Rule testing of the operation of such plans, in
Filing and Immediate Effectiveness of Change the manner and frequency specified by
Proposed Rule Change To Adopt the SCI entity, provided that such
Business Continuity and Disaster 1. Purpose
frequency shall not be less than once
Recovery Plans Testing Requirements Nasdaq is proposing to adopt new
every 12 months.’’ 8 In order to comply
Rule 1170 to implement the BC/DR with Rule 1004 of Regulation SCI, the
November 5, 2015. Plans requirements of Rule 1004 of
Pursuant to Section 19(b)(1) of the Exchange proposes to adopt new Rule
Regulation SCI. As adopted by the 1170, which incorporates the
Securities Exchange Act of 1934 Commission, Regulation SCI applies to
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 requirements of Rule 1004 of Regulation
certain self-regulatory organizations SCI as part of the Exchange’s rules, and
notice is hereby given that on November (including the Exchange), alternative
2, 2015, The NASDAQ Stock Market sets forth the notice, selection criteria
trading systems (‘‘ATSs’’), plan and obligations of Members and
LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed processors, and exempt clearing
with the Securities and Exchange Participants with respect to BC/DR
agencies (collectively, ‘‘SCI entities’’), Plans testing. Nasdaq proposes to adopt
Commission (‘‘SEC’’ or ‘‘Commission’’) and will require these SCI entities to
the proposed rule change as described Rule 1170(a), which will set forth the
comply with requirements with respect Exchange’s obligations with respect to
in Items I and II, below, which Items to the automated systems central to the
have been prepared by the Exchange. the selection of Members and
performance of their regulated activities. Participants for testing. Specifically, the
The Commission is publishing this Among the requirements of Regulation
notice to solicit comments on the rule will require Nasdaq to ‘‘[e]stablish
SCI is Rule 1001(a)(2)(v), which requires standards for the designation of those
proposed rule change from interested the Exchange and other SCI entities to
persons. Members and Options Participants that
maintain ‘‘[b]usiness continuity and Nasdaq reasonably determines are,
I. Self-Regulatory Organization’s disaster recovery plans that include taken as a whole, the minimum
Statement of the Terms of Substance of maintaining backup and recovery necessary for the maintenance of fair
the Proposed Rule Change capabilities sufficiently resilient and and orderly markets in the event of the
geographically diverse and that are activation of such plans.’’ The proposed
The Exchange proposes to adopt
reasonably designed to achieve next new rule further provides that ‘‘[s]uch
business continuity and disaster
business day resumption of trading and standards may include volume-based
recovery plans (‘‘BC/DR Plans’’) testing
two-hour resumption of critical SCI and/or market share-based criteria, and
requirements applicable to Exchange
systems following a wide-scale may be adjusted from time to time by
Members 3 and Options Participants 4 in
Nasdaq.’’ Lastly, the proposed new rule
‘‘transact business on NOM via the Trading System.
6 Id.
Options Participants may trade options for their
will require Nasdaq to provide public
mstockstill on DSK4VPTVN1PROD with NOTICES
7 17 CFR 200.30–3(a)(31). own proprietary accounts or, if authorized to do so notice of the standards that it adopts.
1 15 U.S.C. 78s(b)(1).
under applicable law, and consistent with these Nasdaq is proposing to adopt Rule
2 17 CFR 240.19b–4.
NOM Rules and with applicable law and SEC rules 1170(b), which will set forth the
3 The term ‘‘Member’’ is defined as ‘‘any and regulations, may conduct business on behalf of
registered broker or dealer that has been admitted Customers.’’ See NOM Option Rules, Chapter II,
obligations of Nasdaq and its Members
to membership in Nasdaq.’’ See Exchange Rule Section 1(a).
6 17 CFR 242.1001(a)(2)(v).
0120(i). 5 See Securities Exchange Act Release No. 73639
4 The term ‘‘Options Participant’’ is defined as a 7 17 CFR 242.1004(a).
(November 19, 2014), 79 FR 72252 (December 5,
category of Nasdaq Member that is authorized to 2014) (‘‘SCI Adopting Release’’). 8 17 CFR 242.1004(b).
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Document Created: 2015-12-14 14:53:46
Document Modified: 2015-12-14 14:53:46
| 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 70044 |
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