81 FR 59002 - Self-Regulatory Organizations; NYSE Arca, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 3, To List and Trade Shares of the Natixis Seeyond International Minimum Volatility ETF Under NYSE Arca Equities Rule 8.600
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 166 (August 26, 2016)
Federal Register Volume 81, Issue 166 (August 26, 2016)
| Page Range | 59002-59004 | |
| FR Document | 2016-20454 |
[Federal Register Volume 81, Number 166 (Friday, August 26, 2016)] [Notices] [Pages 59002-59004] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-20454] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78627; File No. SR-NYSEArca-2016-67] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 3, To List and Trade Shares of the Natixis Seeyond International Minimum Volatility ETF Under NYSE Arca Equities Rule 8.600 August 22, 2016. On May 5, 2016, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') 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 Natixis Seeyond International Minimum Volatility ETF (``Fund'') under NYSE Arca Equities Rule 8.600. The proposed rule change was published for comment in the Federal Register on May 25, 2016.\3\ On June 13, 2016, the Exchange filed Amendment No. 1 to the proposed rule change, which replaced and superseded the proposed rule change as originally filed.\4\ On June 22, 2016, the Exchange filed Amendment No. 2 to the proposed rule change.\5\ On July 1, 2016, the Exchange filed Amendment No. 3 to the proposed rule change, which replaced and superseded the proposed rule change as modified by Amendments No. 1 and No. 2.\6\ The Commission has received no comments on the proposed rule change.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. 77861 (May 19, 2016), 81 FR 33291. \4\ In Amendment No. 1, the Exchange: (1) Narrows the universe of investments that may be held by the Fund; (2) discusses the types of corporate bonds of foreign issuers that the Fund would ordinarily hold; (3) clarifies potentially ambiguous language in the filing. \5\ In Amendment No. 2, the Exchange proposes standards for the corporate bonds of foreign issuers that may be held by the Fund and clarifies how spot foreign currency transactions would be priced for purposes of calculating the net asset value (``NAV'') of the Fund. \6\ In Amendment No. 3, the Exchange revises the standards for the Fund's investment in non-U.S. equity securities. Amendments No. 1, No. 2, and No. 3 are available at: http://www.sec.gov/comments/sr-nysearca-2016-67/nysearca201667.shtml. --------------------------------------------------------------------------- On June 30, 2016, pursuant to section 19(b)(2) of the Act,\7\ 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.\8\ The Commission has not received any comments on the proposal, as modified by Amendment No. 3. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78s(b)(2). \8\ See Securities Exchange Act Release No. 78204, 81 FR 44393 (July 7, 2016). The Commission designated a longer period within which to take action on the proposed rule change and designated August 23, 2016, as the date by which it should approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change. --------------------------------------------------------------------------- This order institutes proceedings under section 19(b)(2)(B) of the Act \9\ to determine whether to approve or disapprove the proposed rule change, as modified by Amendment No. 3. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- I. The Exchange's Description of Proposal \10\ --------------------------------------------------------------------------- \10\ The Commission notes that additional information regarding Natixis ETF Trust (``Trust''), the Fund, its investments, and the Shares, including investment strategies, risks, creation and redemption procedures, fees, portfolio holdings disclosure policies, calculation of NAV, distributions, and taxes, among other things, can be found in Amendment No. 3, supra note 6, and the initial registration statement filed with the Commission on March 14, 2016 on Form N-1A under the Securities Act of 1933 (15 U.S.C. 77a) and under the Investment Company Act of 1940 (15 U.S.C. 80a-1) relating to the Fund (File Nos. 333-210156 and 811-23146) (File Nos. 333- 210156 and 811-23146) (``Registration Statement''), as applicable. --------------------------------------------------------------------------- The Exchange proposes to list and trade the Shares under NYSE Arca Equities Rule 8.600, which governs the listing and trading of Managed Fund Shares. The Shares will be offered by the Trust, which is registered with the Commission as an open-end management investment company. NGAM Advisors, L.P. will serve as the investment adviser and administrator to the Fund (``Adviser''). Natixis Asset Management U.S., LLC will serve as the Fund's sub-adviser (``Sub-Adviser''). State Street Bank and Trust Company will serve as custodian and transfer agent for the Fund. Principal Investments The Exchange states that, under normal circumstances,\11\ the Fund will invest primarily in non-U.S. equity securities, which are common stocks and ``Depositary Receipts.'' \12\ The Fund [[Page 59003]] may invest in companies of any size and typically will invest in a number of different countries throughout the world. The Fund's investments may include non-U.S. equity securities traded over-the- counter (``OTC'') as well as those traded on a U.S. or foreign securities exchange.\13\ --------------------------------------------------------------------------- \11\ The term ``under normal circumstances'' includes, but is not limited to, the absence of extreme volatility or trading halts in the securities markets or the financial markets generally; circumstances under which the Fund's investments are made for temporary defensive purposes; operational issues (e.g., systems failures) causing dissemination of inaccurate market information; or force majeure type events such as natural or man-made disaster, act of God, armed conflict, act of terrorism, riot or labor disruption, or any similar intervening circumstance. \12\ Investments in common stock of foreign corporations may be in the form of American Depositary Receipts (``ADRs'') and Global Depositary Receipts (collectively ``Depositary Receipts''). Not more than 10% of the Fund's assets will be invested in non-exchange- listed ADRs. \13\ Non-U.S. equity securities in the Fund's portfolio will meet the following criteria on a continual basis: (1) Non-U.S. equity securities each shall have a minimum market value of at least $100 million; (2) non-U.S. equity securities each shall have a minimum global monthly trading volume of 250,000 shares, or minimum global notional volume traded per month of $25,000,000, averaged over the last six months; (3) the most heavily weighted non-U.S. equity security shall not exceed 25% of the weight of the Fund's entire portfolio, and, to the extent applicable, the five most heavily weighted non-U.S. equity securities shall not exceed 60% of the weight of the Fund's entire portfolio; and (4) each non-U.S. equity security shall be listed and traded on an exchange that has last-sale reporting. See Amendment No. 3, supra note 6, at 6, n.8. --------------------------------------------------------------------------- Other Investments The Exchange states that, while the Fund, under normal circumstances, will invest primarily (more than 50% of its assets) in non-U.S. equity securities, as described above, the Fund will invest its remaining assets in the securities and financial instruments described below (``Non-Principal Investments''). The Fund may invest in: certificates of deposit; time deposits, which are non-negotiable deposits maintained in a bank for a specified period of time up to seven days at a stated interest rate; and bankers' acceptances, which are credit instruments evidencing the obligation of a bank to pay a draft drawn on it by a customer. The Fund also may purchase U.S. dollar-denominated obligations issued by foreign branches of domestic banks or foreign branches of foreign banks (``Eurodollar'' obligations) and domestic branches of foreign banks (``Yankee dollar'' obligations). The Fund may invest in the following U.S. government securities: U.S. Treasury Bills; U.S. Treasury Notes and Bonds; U.S. Treasury Floating Rate Notes; and Treasury Inflation-Protected Securities. The Fund may invest in other investment companies, including exchange-traded funds. The Fund may invest in U.S. or foreign exchange- traded real estate investment trusts (``REITs''). The Fund may invest in preferred stock traded on a U.S. or foreign exchange or OTC. The Fund may invest in the following foreign debt securities, all or a portion of which may be non-U.S. dollar-denominated: (1) Debt obligations issued or guaranteed by non-U.S. national, provincial, state, municipal or other governments or by their agencies or instrumentalities, including ``Brady Bonds''; (ii) debt obligations of supranational entities; (iii) debt obligations of the U.S. government issued in non-dollar securities; (iv) debt obligations and other fixed- income securities of foreign corporate issuers; \14\ and (v) non-U.S. dollar-denominated securities of U.S. corporate issuers. --------------------------------------------------------------------------- \14\ Under normal circumstances, the Fund will invest in corporate bond issuances that have at least $100,000,000 par amount outstanding in developed countries and at least $200,000,000 par amount outstanding in emerging market countries. See Amendment No. 3, supra note 6, at 11. --------------------------------------------------------------------------- The Fund may engage in foreign currency transactions for both hedging and investment purposes. To protect against a change in the foreign currency exchange rate between the date on which the Fund contracts to purchase or sell a security and the settlement date for the purchase or sale, to gain exposure to one or more foreign currencies or to ``lock in'' the equivalent of a dividend or interest payment in another currency, the Fund might purchase or sell a foreign currency on a spot (i.e., cash) basis at the prevailing spot rate. The Fund may enter into repurchase agreements. The Fund may invest in money market instruments. Money market instruments are high-quality, short-term securities. The Fund may invest in U.S. equity securities (other than Depositary Receipts) that are traded on a U.S. exchange or OTC. II. Proceedings To Determine Whether To Approve or Disapprove SR- NYSEArca-2016-67 and Grounds for Disapproval Under Consideration The Commission is instituting proceedings pursuant to section 19(b)(2)(B) of the Act \15\ to determine whether the proposed rule change, as modified by Amendment No. 3, should be approved or disapproved. Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change, as modified by Amendment No. 3. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change, as modified by Amendment No. 3. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- Pursuant to section 19(b)(2)(B) of the Act,\16\ the Commission is providing notice of the grounds for disapproval under consideration. The Commission is instituting 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.'' \17\ --------------------------------------------------------------------------- \16\ Id. \17\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- III. Procedure: Request for Written Comments The Commission requests that interested persons provide written submissions of their views, data, and arguments with respect to the issues identified above, as well as any other concerns they may have with the proposal. In particular, the Commission invites the written views of interested persons concerning whether the proposal is consistent with section 6(b)(5) or any other provision of the Act, or the rules and regulations thereunder. Although there do not appear to be any issues relevant to approval or disapproval that would be facilitated by an oral presentation of views, data, and arguments, the Commission will consider, pursuant to Rule 19b-4, any request for an opportunity to make an oral presentation.\18\ --------------------------------------------------------------------------- \18\ Section 19(b)(2) of the Act, as amended by the Securities Act Amendments of 1975, Pub. L. 94-29 (June 4, 1975), grants the Commission flexibility to determine what type of proceeding--either oral or notice and opportunity for written comments--is appropriate for consideration of a particular proposal by a self-regulatory organization. See Securities Act Amendments of 1975, Senate Comm. on Banking, Housing & Urban Affairs, S. Rep. No. 75, 94th Cong., 1st Sess. 30 (1975). --------------------------------------------------------------------------- Interested persons are invited to submit written data, views, and arguments regarding whether the proposal should be approved or disapproved by September 16, 2016. Any person who wishes to file a rebuttal to any other person's submission must file that rebuttal by September 30, 2016. The Commission asks that commenters address the sufficiency of the Exchange's statements in support of the proposal, which are set forth in the Notice,\19\ in addition to any other comments they may wish to submit about the proposed rule change, as modified by Amendment No. 3. In [[Page 59004]] particular, the Commission seeks comment on the following: --------------------------------------------------------------------------- \19\ See Notice, supra note 3. --------------------------------------------------------------------------- 1. In general, do commenters believe that the proposal is consistent with the requirements of section 6(b)(5) of the Act, which requires that the rules of a national securities exchange be designed, among other things, to promote just and equitable principles of trade, 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? 2. What are commenters' views regarding the lack of quantitative requirements proposed with respect to certain Non-Principal Investments (e.g., U.S. equity securities other than Depositary Receipts, preferred stock, and foreign REITs), which may constitute up to 50% of the Fund's portfolio? Is the proposal adequate, with respect to Non-Principal Investments, to ensure that the price of the Shares is not susceptible to manipulation? 3. What are commenters' views regarding whether the proposal is adequate, with respect to Non-Principal Investments, to ensure adequate pricing transparency for assets held in the Fund's portfolio? 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-NYSEArca-2016-67 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 Numbers SR-NYSEArca-2016-67. 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 these filings 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-NYSEArca-2016-67 and should be submitted on or before September 16, 2016. Rebuttal comments should be submitted by September 30, 2016. --------------------------------------------------------------------------- \20\ 17 CFR 200.30-3(a)(57). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\20\ Robert W. Errett, Deputy Secretary. [FR Doc. 2016-20454 Filed 8-25-16; 8:45 am] BILLING CODE 8011-01-P
![59002 Federal Register / Vol. 81, No. 166 / Friday, August 26, 2016 / Notices
Electronic Comments SECURITIES AND EXCHANGE disapprove the proposed rule change, or
COMMISSION institute proceedings to determine
• Use the Commission’s Internet whether to disapprove the proposed
comment form (http://www.sec.gov/ [Release No. 34–78627; File No. SR– rule change.8 The Commission has not
rules/sro.shtml); or NYSEArca–2016–67] received any comments on the proposal,
• Send an email to rule-comments@ Self-Regulatory Organizations; NYSE as modified by Amendment No. 3.
sec.gov. Please include File No. SR– This order institutes proceedings
Arca, Inc.; Order Instituting
NYSEMKT–2016–63 on the subject line. under section 19(b)(2)(B) of the Act 9 to
Proceedings To Determine Whether To
determine whether to approve or
Paper Comments Approve or Disapprove a Proposed disapprove the proposed rule change, as
Rule Change, as Modified by modified by Amendment No. 3.
• Send paper comments in triplicate Amendment No. 3, To List and Trade
to Brent J. Fields, Secretary, Securities Shares of the Natixis Seeyond I. The Exchange’s Description of
and Exchange Commission, 100 F Street International Minimum Volatility ETF Proposal 10
NE., Washington, DC 20549–1090. Under NYSE Arca Equities Rule 8.600 The Exchange proposes to list and
August 22, 2016. trade the Shares under NYSE Arca
All submissions should refer to File No.
Equities Rule 8.600, which governs the
SR–NYSEMKT–2016–63. This file On May 5, 2016, NYSE Arca, Inc.
listing and trading of Managed Fund
number should be included on the (‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
Shares. The Shares will be offered by
subject line if email is used. To help the with the Securities and Exchange
the Trust, which is registered with the
Commission process and review your Commission (‘‘Commission’’), pursuant
Commission as an open-end
comments more efficiently, please use to section 19(b)(1) of the Securities
management investment company.
only one method. The Commission will Exchange Act of 1934 (‘‘Act’’) 1 and Rule NGAM Advisors, L.P. will serve as the
post all comments on the Commission’s 19b–4 thereunder,2 a proposed rule investment adviser and administrator to
Internet Web site (http://www.sec.gov/ change to list and trade shares the Fund (‘‘Adviser’’). Natixis Asset
rules/sro.shtml). Copies of the (‘‘Shares’’) of the Natixis Seeyond Management U.S., LLC will serve as the
submission, all subsequent International Minimum Volatility ETF Fund’s sub-adviser (‘‘Sub-Adviser’’).
(‘‘Fund’’) under NYSE Arca Equities State Street Bank and Trust Company
amendments, all written statements
Rule 8.600. The proposed rule change will serve as custodian and transfer
with respect to the proposed rule
was published for comment in the agent for the Fund.
change that are filed with the Federal Register on May 25, 2016.3 On
Commission, and all written June 13, 2016, the Exchange filed Principal Investments
communications relating to the Amendment No. 1 to the proposed rule The Exchange states that, under
proposed rule change between the change, which replaced and superseded normal circumstances,11 the Fund will
Commission and any person, other than the proposed rule change as originally invest primarily in non-U.S. equity
those that may be withheld from the filed.4 On June 22, 2016, the Exchange securities, which are common stocks
public in accordance with the filed Amendment No. 2 to the proposed and ‘‘Depositary Receipts.’’ 12 The Fund
provisions of 5 U.S.C. 552, will be rule change.5 On July 1, 2016, the
available for Web site viewing and Exchange filed Amendment No. 3 to the 8 See Securities Exchange Act Release No. 78204,
printing in the Commission’s Public proposed rule change, which replaced 81 FR 44393 (July 7, 2016). The Commission
designated a longer period within which to take
Reference Room, 100 F Street NE., and superseded the proposed rule action on the proposed rule change and designated
Washington, DC 20549 on official change as modified by Amendments No. August 23, 2016, as the date by which it should
business days between the hours of 1 and No. 2.6 The Commission has approve, disapprove, or institute proceedings to
received no comments on the proposed determine whether to disapprove the proposed rule
10:00 a.m. and 3:00 p.m. Copies of such change.
filing also will be available for rule change. 9 15 U.S.C. 78s(b)(2)(B).
inspection and copying at the principal On June 30, 2016, pursuant to section 10 The Commission notes that additional
office of the Exchange. All comments 19(b)(2) of the Act,7 the Commission information regarding Natixis ETF Trust (‘‘Trust’’),
designated a longer period within which the Fund, its investments, and the Shares, including
received will be posted without change; investment strategies, risks, creation and
the Commission does not edit personal to approve the proposed rule change, redemption procedures, fees, portfolio holdings
identifying information from disclosure policies, calculation of NAV,
1 15 U.S.C. 78s(b)(1). distributions, and taxes, among other things, can be
submissions. You should submit only 2 17 CFR 240.19b–4. found in Amendment No. 3, supra note 6, and the
information that you wish to make 3 See Securities Exchange Act Release No. 77861 initial registration statement filed with the
available publicly. All submissions (May 19, 2016), 81 FR 33291. Commission on March 14, 2016 on Form N–1A
under the Securities Act of 1933 (15 U.S.C. 77a) and
should refer to File No. SR–NYSEMKT– 4 In Amendment No. 1, the Exchange: (1) Narrows
under the Investment Company Act of 1940 (15
2016–63, and should be submitted on or the universe of investments that may be held by the
U.S.C. 80a–1) relating to the Fund (File Nos. 333–
Fund; (2) discusses the types of corporate bonds of
before September 16, 2016. 210156 and 811–23146) (File Nos. 333–210156 and
foreign issuers that the Fund would ordinarily hold;
811–23146) (‘‘Registration Statement’’), as
For the Commission, by the Division of (3) clarifies potentially ambiguous language in the
applicable.
filing.
Trading and Markets, pursuant to delegated 5 In Amendment No. 2, the Exchange proposes
11 The term ‘‘under normal circumstances’’
authority.46 includes, but is not limited to, the absence of
standards for the corporate bonds of foreign issuers extreme volatility or trading halts in the securities
Robert W. Errett, that may be held by the Fund and clarifies how spot markets or the financial markets generally;
foreign currency transactions would be priced for circumstances under which the Fund’s investments
mstockstill on DSK3G9T082PROD with NOTICES
Deputy Secretary. purposes of calculating the net asset value (‘‘NAV’’) are made for temporary defensive purposes;
[FR Doc. 2016–20456 Filed 8–25–16; 8:45 am] of the Fund. operational issues (e.g., systems failures) causing
6 In Amendment No. 3, the Exchange revises the
BILLING CODE 8011–01–P dissemination of inaccurate market information; or
standards for the Fund’s investment in non-U.S. force majeure type events such as natural or man-
equity securities. Amendments No. 1, No. 2, and made disaster, act of God, armed conflict, act of
No. 3 are available at: http://www.sec.gov/ terrorism, riot or labor disruption, or any similar
comments/sr-nysearca-2016–67/ intervening circumstance.
nysearca201667.shtml. 12 Investments in common stock of foreign
46 17 CFR 200.30–3(a)(12). 7 15 U.S.C. 78s(b)(2). corporations may be in the form of American
VerDate Sep<11>2014 21:17 Aug 25, 2016 Jkt 238001 PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 E:\FR\FM\26AUN1.SGM 26AUN1](https://thefederalregister.org/doc/81_FR_59168/page/1.svg)
![59004 Federal Register / Vol. 81, No. 166 / Friday, August 26, 2016 / Notices
particular, the Commission seeks available for Web site viewing and additional information regarding the
comment on the following: printing in the Commission’s Public access to trading and execution services
1. In general, do commenters believe Reference Room, 100 F Street NE., and connectivity to data provided to
that the proposal is consistent with the Washington, DC 20549, on official Users with local area networks available
requirements of section 6(b)(5) of the business days between the hours of in the data center; and (2) to establish
Act, which requires that the rules of a 10:00 a.m. and 3:00 p.m. Copies of these fees relating to User’s access to trading
national securities exchange be filings also will be available for and execution services; connectivity to
designed, among other things, to inspection and copying at the principal data feeds and to testing and
promote just and equitable principles of office of the Exchange. All comments certification feeds; access to clearing;
trade, to remove impediments to and received will be posted without change; and other services. In addition, this
perfect the mechanism of a free and the Commission does not edit personal proposed rule change reflects changes to
open market and a national market identifying information from the NYSE Arca Options Fee Schedule
system, and, in general, to protect submissions. You should submit only (the ‘‘Options Fee Schedule’’) and,
investors and the public interest? information that you wish to make through its wholly owned subsidiary
2. What are commenters’ views available publicly. All submissions NYSE Arca Equities, Inc. (‘‘NYSE Arca
regarding the lack of quantitative should refer to File Number SR– Equities’’), the NYSE Arca Equities
requirements proposed with respect to NYSEArca–2016–67 and should be Schedule of Fees and Charges for
certain Non-Principal Investments (e.g., submitted on or before September 16, Exchange Services (the ‘‘Equities Fee
U.S. equity securities other than 2016. Rebuttal comments should be Schedule’’ and, together with the
Depositary Receipts, preferred stock, submitted by September 30, 2016. Options Fee Schedule, the ‘‘Fee
and foreign REITs), which may For the Commission, by the Division of Schedules’’) related to these co-location
constitute up to 50% of the Fund’s Trading and Markets, pursuant to delegated services. The proposed rule change is
portfolio? Is the proposal adequate, with authority.20 available on the Exchange’s Web site at
respect to Non-Principal Investments, to Robert W. Errett, www.nyse.com, at the principal office of
ensure that the price of the Shares is not Deputy Secretary. the Exchange, and at the Commission’s
susceptible to manipulation? [FR Doc. 2016–20454 Filed 8–25–16; 8:45 am]
Public Reference Room.
3. What are commenters’ views
BILLING CODE 8011–01–P II. Self-Regulatory Organization’s
regarding whether the proposal is
Statement of the Purpose of, and
adequate, with respect to Non-Principal
Statutory Basis for, the Proposed Rule
Investments, to ensure adequate pricing SECURITIES AND EXCHANGE Change
transparency for assets held in the COMMISSION
Fund’s portfolio? In its filing with the Commission, the
Comments may be submitted by any [Release No. 34–78628; File No. SR– self-regulatory organization included
of the following methods: NYSEArca–2016–89] statements concerning the purpose of,
and basis for, the proposed rule change
Electronic Comments Self-Regulatory Organizations; NYSE and discussed any comments it received
• Use the Commission’s Internet Arca, Inc.; Notice of Filing of Proposed on the proposed rule change. The text
comment form (http://www.sec.gov/ Rule Change Amending the Co- of those statements may be examined at
rules/sro.shtml); or location Services Offered by the the places specified in Item IV below.
• Send an email to rule-comments@ Exchange To Add Certain Access and The Exchange has prepared summaries,
sec.gov. Please include File Number SR– Connectivity Fees set forth in sections A, B, and C below,
NYSEArca–2016–67 on the subject line. August 22, 2016. of the most significant parts of such
Paper Comments Pursuant to section 19(b)(1) 1 of the statements.
Securities Exchange Act of 1934 (the A. Self-Regulatory Organization’s
• Send paper comments in triplicate
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Statement of the Purpose of, and
to Secretary, Securities and Exchange
notice is hereby given that, on August Statutory Basis for, the Proposed Rule
Commission, 100 F Street NE.,
16, 2016, NYSE Arca, Inc. (the Change
Washington, DC 20549–1090.
All submissions should refer to File ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
the Securities and Exchange 1. Purpose
Numbers SR–NYSEArca–2016–67. This
file number should be included on the Commission (the ‘‘Commission’’) the The Exchange proposes to amend the
subject line if email is used. To help the proposed rule change as described in co-location 4 services offered by the
Commission process and review your Items I, II, and III below, which Items Exchange as follows: (1) To provide
comments more efficiently, please use have been prepared by the self- additional information regarding the
only one method. The Commission will regulatory organization. The access to trading and execution services
post all comments on the Commission’s Commission is publishing this notice to and connectivity to data provided to
Internet Web site (http://www.sec.gov/ solicit comments on the proposed rule Users 5 with local area networks
rules/sro.shtml). Copies of the change from interested persons.
4 The Exchange initially filed rule changes
submission, all subsequent I. Self-Regulatory Organization’s relating to its co-location services with the
amendments, all written statements Statement of the Terms of the Substance Securities and Exchange Commission
with respect to the proposed rule of the Proposed Rule Change (‘‘Commission’’) in 2010. See Securities Exchange
change that are filed with the Act Release No. 63275 (November 8, 2010), 75 FR
mstockstill on DSK3G9T082PROD with NOTICES
The Exchange proposes to amend the 70048 (November 16, 2010) (SR–NYSEArca–2010–
Commission, and all written co-location services offered by the 100) (the ‘‘Original Co-location Filing’’). The
communications relating to the Exchange as follows: (1) To provide Exchange operates a data center in Mahwah, New
proposed rule change between the Jersey (the ‘‘data center’’) from which it provides
Commission and any person, other than co-location services to Users.
20 17 CFR 200.30–3(a)(57). 5 For purposes of the Exchange’s co-location
those that may be withheld from the 1 15 U.S.C.78s(b)(1). services, a ‘‘User’’ means any market participant
public in accordance with the 2 15 U.S.C. 78a.
that requests to receive co-location services directly
provisions of 5 U.S.C. 552, will be 3 17 CFR 240.19b–4. from the Exchange. See Securities Exchange Act
VerDate Sep<11>2014 21:17 Aug 25, 2016 Jkt 238001 PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 E:\FR\FM\26AUN1.SGM 26AUN1](https://thefederalregister.org/doc/81_FR_59168/page/3.svg)
Document Created: 2016-08-26 10:40:54
Document Modified: 2016-08-26 10:40:54
| 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 | 81 FR 59002 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR