81 FR 59257 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Elkhorn Commodity Rotation Strategy ETF of the Elkhorn ETF Trust
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 167 (August 29, 2016)
Federal Register Volume 81, Issue 167 (August 29, 2016)
| Page Range | 59257-59259 | |
| FR Document | 2016-20577 |
[Federal Register Volume 81, Number 167 (Monday, August 29, 2016)] [Notices] [Pages 59257-59259] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-20577] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78654; File No. SR-NASDAQ-2016-117] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Elkhorn Commodity Rotation Strategy ETF of the Elkhorn ETF Trust August 23, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on August 11, 2016, The NASDAQ Stock Market LLC (``Nasdaq'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by Nasdaq. 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 Substance of the Proposed Rule Change Nasdaq proposes a rule change relating to the Elkhorn Commodity Rotation Strategy ETF (formerly, the Elkhorn Dorsey Wright Commodity Rotation Portfolio) (the ``Fund'') of Elkhorn ETF Trust (the ``Trust''), the shares of which have been approved by the Commission for listing and trading under Nasdaq Rule 5735 (``Managed Fund Shares''). The proposed rule change reflects (i) a change to the name of the Fund, and (ii) a change to the name and ownership of the benchmark index applicable to the Fund. The shares of the Fund are collectively referred to herein as the ``Shares.'' The text of the proposed rule change is available at http://nasdaq.cchwallstreet.com/, at Nasdaq's principal office, 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, Nasdaq 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. Nasdaq 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 The Commission previously approved the listing and trading of the Shares under Nasdaq Rule 5735, which governs the listing and trading of Managed Fund Shares on the Exchange.\3\ However, no Shares are currently listed and traded on the Exchange. The Exchange believes the proposed rule change reflects no significant issues not previously addressed in the Prior Release. --------------------------------------------------------------------------- \3\ The Commission approved Nasdaq Rule 5735 (formerly Nasdaq Rule 4420(o)) in Securities Exchange Act Release No. 57962 (June 13, 2008), 73 FR 35175 (June 20, 2008) (SR-NASDAQ-2008-039). The Commission previously approved the listing and trading of the Shares of the Fund. See Securities Exchange Act Release No. 77688 (April 22, 2016), 81 FR 25467 (April 28, 2016) (SR-NASDAQ-2016-030) (``Prior Order''). See also Securities Exchange Act Release No. 77338 (March 10, 2016), 81 FR 14142 (March 16, 2016) (SR-NASDAQ- 2016-030) (``Prior Notice,'' and together with the Prior Order, the ``Prior Release''). --------------------------------------------------------------------------- The Fund is an actively managed exchange-traded fund (``ETF''). The Shares will be offered by the Trust, which was organized as a Massachusetts business trust on December 12, 2013. The Trust, which is registered with the Commission as an investment company, has filed a registration statement on Form N-1A (``Registration Statement'') relating to the Fund with the Commission.\4\ --------------------------------------------------------------------------- \4\ See Registration Statement on Form N-1A for the Trust, dated February 18, 2016 (File Nos. 333-201473 and 811-22926) (the ``Registration Statement''). The descriptions of the Shares and the Fund contained herein are based, in part, on information in the Registration Statement. Before Shares are publicly offered, the Trust will file a post-effective amendment to its Registration Statement that reflects the changes in this proposed rule change. The descriptions of the operation of the Trust and the Fund will be reflected in any such filing. The changes in this proposed rule change will not be implemented for the Fund until the post-effective amendment to the Registration Statement becomes effective. The Adviser represents that the Adviser will not implement the changes described herein until the instant proposed rule change is operative. --------------------------------------------------------------------------- [[Page 59258]] As indicated in the Prior Release, Elkhorn Investments, LLC will be the investment adviser (the ``Adviser'') to the Fund and will monitor the Fund's investment portfolio. It is currently anticipated that day- to-day portfolio management for the Fund will be provided by the Adviser. However, the Fund and the Adviser may contract with an investment sub-adviser (a ``Sub-Adviser'') to provide day-to-day portfolio management for the Fund. ALPS Distributors, Inc. will be the principal underwriter and distributor of the Fund's Shares. The Fund will contract with unaffiliated third parties to provide administrative, custodial and transfer agency services to the Fund. The Prior Release identified the name of the Fund as the Elkhorn Dorsey Wright Commodity Rotation Portfolio. Subsequent to the Commission's approval of the listing and trading of the Shares, the Fund determined to change its name to the Elkhorn Commodity Rotation Strategy ETF following the request from the SEC's Division of Investment Management to remove the reference to ``Dorsey Wright'' from the Fund's name. In this proposed rule change, the Exchange proposes to reflect the change to the name of the Fund. The Prior Release provided that the Fund's investment objective would be to provide total return which exceeds that of the ``DWA Commodity Rotation Index'' (the ``Original Benchmark''). The Prior Release indicated that the Original Benchmark was developed, maintained and sponsored by Dorsey, Wright & Associates, LLC (``Dorsey Wright''). In this proposed rule change, the Exchange proposes to reflect a change to the name and ownership of the benchmark index applicable to the Fund. The new benchmark will be called the ``Elkhorn Dorsey Wright Commodity Rotation Index'' (``New Benchmark''). Accordingly, the Fund's investment objective will be to provide total return which exceeds that of the New Benchmark and, except as provided herein, the term ``Benchmark,'' as set forth in the Prior Release, will generally be deemed to refer to the New Benchmark. The New Benchmark is a proprietary index that will be owned by the Adviser. Consistent with the Prior Release, the New Benchmark (like the Original Benchmark) will track a proprietary model of futures contracts on commodities (the ``Benchmark Model'') that is developed, maintained and sponsored by Dorsey Wright. The Benchmark Model will be licensed to the Adviser. In connection with the Benchmark Model, Dorsey Wright applies a relative strength methodology to rank twenty-five to thirty single commodity futures, each represented by single commodity futures index with an embedded dynamic roll strategy, and selects a subset of commodity futures that demonstrate relative strength characteristics. The methodology takes into account, among other characteristics, the performance of a commodity as compared to the broad commodity market, the relative performance of each single commodity versus all of the other commodities, and the liquidity of the underlying commodities. The Fund will not be sponsored, endorsed, sold or promoted by Dorsey Wright. Dorsey Wright's only relationship to the Fund will be the licensing of certain service marks and service names of Dorsey Wright and the licensing of the Benchmark Model to the Adviser. Dorsey Wright will have no obligation to take the needs of the Adviser, any Sub-Adviser or the Fund into consideration in connection with the Benchmark Model or its application of the related methodology. Except for the changes noted above, all of the representations made in the Prior Release remain unchanged. 2. Statutory Basis The Exchange believes that the proposal is consistent with Section 6(b) of the Act \5\ in general and Section 6(b)(5) of the Act \6\ in particular in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f. \6\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices in that the Shares would be listed and traded on the Exchange pursuant to the initial and continued listing criteria in Nasdaq Rule 5735. The Exchange notes that Shares have not yet been listed on the Exchange. Consistent with the Prior Release, the Exchange represents that trading in the Shares would be subject to the existing trading surveillances, administered by both Nasdaq and also the Financial Industry Regulatory Authority (``FINRA''), on behalf of the Exchange, which are designed to detect violations of Exchange rules and applicable federal securities laws and that these procedures are adequate to properly monitor Exchange trading of the Shares in all trading sessions and to deter and detect violations of Exchange rules and applicable federal securities laws. The proposed rule change is designed to promote just and equitable principles of trade and to protect investors and the public interest in that the Adviser represents that, other than to change the Original Benchmark to the New Benchmark, there is no change to the Fund's investment objective. The Adviser represents that the purpose of the proposed change is to reflect a change to the name of the Fund and the name and ownership of the benchmark index applicable to the Fund. Accordingly, the Fund's investment objective will be to provide total return which exceeds that of the New Benchmark and, except as provided herein, the term ``Benchmark,'' as set forth in the Prior Release, will generally be deemed to refer to the New Benchmark. The Adviser represents that, other than the changes to the name and ownership of the Benchmark, there are no other changes to the Benchmark, including to its methodology, as described in the Prior Release. Except as provided herein, none of the representations of the Fund or the Adviser made in the Prior Release have changed. The proposed rule change is designed to perfect the mechanism of a free and open market and, in general, to protect investors and the public interest. As noted above, the proposed rule change is intended to reflect a change to the name of the Fund and the name and ownership of the benchmark index applicable to the Fund. Further, the Exchange notes that the Fund does not yet have publicly offered Shares and does not yet have Shares listed and traded on the Exchange. Before Shares are publicly offered, the Trust will file a post-effective amendment to its Registration Statement that reflects the changes in the proposed rule change. The Shares will not be publicly offered until the post- effective amendment to the Registration Statement becomes effective. [[Page 59259]] For the above reasons, the Exchange believes the proposed rule change is consistent with the requirements of Section 6(b)(5) of the Act. 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. The Exchange believes the proposed rule change will accommodate the listing and trading of Managed Fund Shares for an additional actively managed exchange-traded product, thereby enhancing competition among issues of Managed Fund Shares. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing 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, it has become effective pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b- 4(f)(6) thereunder.\8\ --------------------------------------------------------------------------- \7\ 15 U.S.C. 78s(b)(3)(A). \8\ 17 CFR 240.19b-4(f)(6). 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. --------------------------------------------------------------------------- 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-NASDAQ-2016-117 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-NASDAQ-2016-117. 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 will also 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-NASDAQ-2016-117 and should be submitted on or before September 19, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\9\ --------------------------------------------------------------------------- \9\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-20577 Filed 8-26-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 167 / Monday, August 29, 2016 / Notices 59257
designates October 12, 2016, as the date Commission finds that it is appropriate of the Fund, and (ii) a change to the
by which the Commission shall either to designate a longer period within name and ownership of the benchmark
approve or disapprove or institute which to take action on the proposed index applicable to the Fund. The
proceedings to determine whether to rule change so that it has sufficient time shares of the Fund are collectively
disapprove the proposed rule change to consider the proposed rule change. referred to herein as the ‘‘Shares.’’
(File Number SR–BatsBZX–2016–30). Accordingly, the Commission, The text of the proposed rule change
For the Commission, by the Division of
pursuant to Section 19(b)(2) of the Act,5 is available at http://
Trading and Markets, pursuant to delegated designates October 10, 2016, as the date nasdaq.cchwallstreet.com/, at Nasdaq’s
authority.7 by which the Commission shall either principal office, and at the
Robert W. Errett, approve or disapprove or institute Commission’s Public Reference Room.
Deputy Secretary. proceedings to determine whether to
II. Self-Regulatory Organization’s
[FR Doc. 2016–20576 Filed 8–26–16; 8:45 am]
disapprove the proposed rule change Statement of the Purpose of, and
(File Number SR–BatsBZX–2016–26). Statutory Basis for, the Proposed Rule
BILLING CODE 8011–01–P
For the Commission, by the Division of Change
Trading and Markets, pursuant to delegated
authority.6 In its filing with the Commission,
SECURITIES AND EXCHANGE Nasdaq included statements concerning
COMMISSION Robert W. Errett,
the purpose of, and basis for, the
Deputy Secretary.
[Release No. 34–78640; File No. SR– proposed rule change and discussed any
[FR Doc. 2016–20571 Filed 8–26–16; 8:45 am]
BatsBZX–2016–26] comments it received on the proposed
BILLING CODE 8011–01–P
rule change. The text of these statements
Self-Regulatory Organizations; Bats may be examined at the places specified
BZX Exchange, Inc.; Notice of in Item IV below. Nasdaq has prepared
Designation of a Longer Period for SECURITIES AND EXCHANGE
summaries, set forth in Sections A, B,
Commission Action on Proposed Rule COMMISSION
and C below, of the most significant
Change to BZX Rule 14.11(d) To Add [Release No. 34–78654; File No. SR– aspects of such statements.
the EURO STOXX 50® Volatility NASDAQ–2016–117]
Futures to the Definition of Futures A. Self-Regulatory Organization’s
Reference Asset Self-Regulatory Organizations; The Statement of the Purpose of, and
NASDAQ Stock Market LLC; Notice of Statutory Basis for, the Proposed Rule
August 23, 2016. Filing and Immediate Effectiveness of Change
On June 23, 2016, Bats BZX Exchange, Proposed Rule Change Relating to the 1. Purpose
Inc. (‘‘BZX’’) filed with the Securities Elkhorn Commodity Rotation Strategy
and Exchange Commission ETF of the Elkhorn ETF Trust The Commission previously approved
(‘‘Commission’’), pursuant to Section the listing and trading of the Shares
19(b)(1) of the Securities Exchange Act August 23, 2016. under Nasdaq Rule 5735, which governs
of 1934 (‘‘Act’’) 1 and Rule 19b–4 Pursuant to Section 19(b)(1) of the the listing and trading of Managed Fund
thereunder,2 a proposed rule change to Securities Exchange Act of 1934 Shares on the Exchange.3 However, no
amend BZX Rule 14.11(d) by adding the (‘‘Act’’),1 and Rule 19b–4 thereunder,2 Shares are currently listed and traded
EURO STOXX 50® Volatility notice is hereby given that on August on the Exchange. The Exchange believes
(VSTOXX®) Futures to the definition of 11, 2016, The NASDAQ Stock Market the proposed rule change reflects no
Futures Reference Asset. The proposed LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed significant issues not previously
rule change was published for comment with the Securities and Exchange addressed in the Prior Release.
in the Federal Register on July 12, Commission (‘‘SEC’’ or ‘‘Commission’’) The Fund is an actively managed
2016.3 The Commission has received no the proposed rule change as described exchange-traded fund (‘‘ETF’’). The
comment letters on the proposed rule in Items I and II below, which Items Shares will be offered by the Trust,
change. have been prepared by Nasdaq. The which was organized as a Massachusetts
Section 19(b)(2) of the Act 4 provides Commission is publishing this notice to business trust on December 12, 2013.
that, within 45 days of the publication solicit comments on the proposed rule The Trust, which is registered with the
of notice of the filing of a proposed rule change from interested persons. Commission as an investment company,
change, or within such longer period up has filed a registration statement on
I. Self-Regulatory Organization’s Form N–1A (‘‘Registration Statement’’)
to 90 days as the Commission may Statement of the Terms of Substance of
designate if it finds such longer period relating to the Fund with the
the Proposed Rule Change Commission.4
to be appropriate and publishes its
reasons for so finding or as to which the Nasdaq proposes a rule change
self-regulatory organization consents, relating to the Elkhorn Commodity 3 The Commission approved Nasdaq Rule 5735
Rotation Strategy ETF (formerly, the (formerly Nasdaq Rule 4420(o)) in Securities
the Commission shall either approve the Exchange Act Release No. 57962 (June 13, 2008), 73
proposed rule change, disapprove the Elkhorn Dorsey Wright Commodity FR 35175 (June 20, 2008) (SR–NASDAQ–2008–039).
proposed rule change, or institute Rotation Portfolio) (the ‘‘Fund’’) of The Commission previously approved the listing
proceedings to determine whether the Elkhorn ETF Trust (the ‘‘Trust’’), the and trading of the Shares of the Fund. See
shares of which have been approved by Securities Exchange Act Release No. 77688 (April
proposed rule change should be 22, 2016), 81 FR 25467 (April 28, 2016) (SR–
disapproved. The Commission is the Commission for listing and trading NASDAQ–2016–030) (‘‘Prior Order’’). See also
jstallworth on DSK7TPTVN1PROD with NOTICES
extending this 45-day time period. The under Nasdaq Rule 5735 (‘‘Managed Securities Exchange Act Release No. 77338 (March
Fund Shares’’). The proposed rule 10, 2016), 81 FR 14142 (March 16, 2016) (SR–
7 17 change reflects (i) a change to the name NASDAQ–2016–030) (‘‘Prior Notice,’’ and together
CFR 200.30–3(a)(31). with the Prior Order, the ‘‘Prior Release’’).
1 15 U.S.C. 78s(b)(1). 4 See Registration Statement on Form N–1A for
2 17 CFR 240.19b–4. 5 Id.
the Trust, dated February 18, 2016 (File Nos. 333–
3 See Securities Exchange Act Release No. 78236 6 17 CFR 200.30–3(a)(31). 201473 and 811–22926) (the ‘‘Registration
(Jul. 6, 2016), 81 FR 45185. 1 15 U.S.C. 78s(b)(1). Statement’’). The descriptions of the Shares and the
4 15 U.S.C. 78s(b)(2). 2 17 CFR 240.19b–4. Continued
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![Federal Register / Vol. 81, No. 167 / Monday, August 29, 2016 / Notices 59259
For the above reasons, the Exchange Comments may be submitted by any of SECURITIES AND EXCHANGE
believes the proposed rule change is the following methods: COMMISSION
consistent with the requirements of
Section 6(b)(5) of the Act. Electronic Comments [Release No. 34–78641; File No. SR–NYSE–
2016–44]
B. Self-Regulatory Organization’s • Use the Commission’s Internet
Statement on Burden on Competition comment form (http://www.sec.gov/ Self-Regulatory Organizations; New
rules/sro.shtml); or York Stock Exchange LLC; Notice of
The Exchange does not believe that Designation of a Longer Period for
the proposed rule change will impose • Send an email to rule-comments@
Commission Action on a Proposed
any burden on competition that is not sec.gov. Please include File Number SR–
Rule Change, as Modified by
necessary or appropriate in furtherance NASDAQ–2016–117 on the subject line. Amendment No. 1 Thereto, Allowing
of the purposes of the Act. The the Exchange To Trade Pursuant To
Exchange believes the proposed rule Paper Comments
Unlisted Trading Privileges for Any
change will accommodate the listing • Send paper comments in triplicate NMS Stock Listed on Another National
and trading of Managed Fund Shares for to Secretary, Securities and Exchange Securities Exchange; Establishing
an additional actively managed Commission, 100 F Street NE., Listing and Trading Requirements for
exchange-traded product, thereby Washington, DC 20549–1090. Exchange Traded Products; and
enhancing competition among issues of Adopting New Equity Trading Rules
Managed Fund Shares. All submissions should refer to File
Relating To Trading Halts of Securities
Number SR–NASDAQ–2016–117. This Traded Pursuant to UTP on the Pillar
C. Self-Regulatory Organization’s
file number should be included on the Platform
Statement on Comments on the
subject line if email is used. To help the
Proposed Rule Change Received From
Members, Participants or Others Commission process and review your August 23, 2016.
comments more efficiently, please use On June 30, 2016, New York Stock
Written comments were neither only one method. The Commission will Exchange LLC (‘‘Exchange’’) filed with
solicited nor received. post all comments on the Commission’s the Securities and Exchange
III. Date of Effectiveness of the Internet Web site (http://www.sec.gov/ Commission (‘‘Commission’’), pursuant
Proposed Rule Change and Timing for rules/sro.shtml). Copies of the to Section 19(b)(1) of the Securities
Commission Action submission, all subsequent Exchange Act of 1934 (‘‘Act’’) 1 and Rule
amendments, all written statements 19b–4 thereunder,2 a proposed rule
Because the foregoing proposed rule change to (1) allow the Exchange to
change does not: (i) Significantly affect with respect to the proposed rule
change that are filed with the trade pursuant to unlisted trading
the protection of investors or the public privileges (‘‘UTP’’) any NMS Stock
interest; (ii) impose any significant Commission, and all written
communications relating to the listed on another national securities
burden on competition; and (iii) become exchange; (2) establish listing and
operative for 30 days from the date on proposed rule change between the
Commission and any person, other than trading requirements for exchange-
which it was filed, or such shorter time traded products (‘‘ETPs’’); and (3) adopt
as the Commission may designate, it has those that may be withheld from the
public in accordance with the new equity trading rules relating to
become effective pursuant to Section trading halts of securities traded
19(b)(3)(A) of the Act 7 and Rule 19b– provisions of 5 U.S.C. 552, will be
pursuant to UTP on the Pillar platform.
4(f)(6) thereunder.8 available for Web site viewing and
The proposed rule change was
At any time within 60 days of the printing in the Commission’s Public
published for comment in the Federal
filing of the proposed rule change, the Reference Room, 100 F Street NE.,
Register on July 14, 2016.3 On July 26,
Commission summarily may Washington, DC 20549, on official
2016, the Exchange filed Amendment
temporarily suspend such rule change if business days between the hours of
No. 1 to the proposed rule change.4 The
it appears to the Commission that such 10:00 a.m. and 3:00 p.m. Copies of such
action is necessary or appropriate in the filing will also be available for 1 15 U.S.C. 78s(b)(1).
public interest, for the protection of inspection and copying at the principal 2 17 CFR 240.19b–4.
investors, or otherwise in furtherance of office of the Exchange. All comments 3 See Securities Exchange Act Release No. 78263
the purposes of the Act. If the received will be posted without change; (Jul. 8, 2016), 81 FR 45580.
Commission takes such action, the the Commission does not edit personal 4 In Amendment No. 1, the Exchange: (1) Added
Commission shall institute proceedings a bullet point stating that ‘‘[b]ecause the Exchange’s
identifying information from rules regarding the production of books and records
to determine whether the proposed rule submissions. You should submit only are described in Rule 440, the Exchange is
should be approved or disapproved. information that you wish to make proposing to refer to Rule 440 in its proposed rules
available publicly. All submissions wherever NYSE Arca Equities Rule 4.4 is referenced
IV. Solicitation of Comments in the rules of NYSE Arca Equities proposed in this
should refer to File Number SR– filing;’’ (2) deleted the sentence stating that ‘‘[i]f an
Interested persons are invited to NASDAQ–2016–117 and should be exchange has approved trading rules, procedures
submit written data, views, and submitted on or before September 19, and listing standards in place that have been
arguments concerning the foregoing, 2016. approved by the Commission for the product class
including whether the proposed rule that would include a new derivative securities
For the Commission, by the Division of product, the listing and trading of such ‘new
change is consistent with the Act. derivative securities product,’ does not require a
Trading and Markets, pursuant to delegated
proposed rule change under Section 19b–4 of the
jstallworth on DSK7TPTVN1PROD with NOTICES
7 15 U.S.C. 78s(b)(3)(A). authority.9 Act’’ and made conforming changes to the rest of
8 17 CFR 240.19b–4(f)(6). As required under Rule Robert W. Errett, that paragraph; (3) deleted the bullet point that
19b–4(f)(6)(iii), the Exchange provided the stated ‘‘[c]orrection of a typographical error in
Commission with written notice of its intent to file
Deputy Secretary. NYSE Arca Equities Rule 8.400(a) so that proposed
the proposed rule change, along with a brief [FR Doc. 2016–20577 Filed 8–26–16; 8:45 am] Rule 8.400(a) reads ‘as such terms are used in Rule
description and the text of the proposed rule BILLING CODE 8011–01–P
5.1(b)’ in the last sentence, rather than ‘as such
change, at least five business days prior to the date terms are used in the Rule 5.1(b)’ as is currently
of filing of the proposed rule change, or such drafted in NYSE Arca Equities Rule 8.400(a);’’ and
shorter time as designated by the Commission. 9 17 CFR 200.30–3(a)(12). Continued
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Document Created: 2016-08-26 23:49:34
Document Modified: 2016-08-26 23:49:34
| 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 59257 |
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