81 FR 64552 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the Direxion Daily Municipal Bond Taxable Bear 1X Fund Under NYSE Arca Equities Rule 5.2(j)(3)

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 182 (September 20, 2016)

Page Range		64552-64552
FR Document		2016-22539

Federal Register, Volume 81 Issue 182 (Tuesday, September 20, 2016)

[Federal Register Volume 81, Number 182 (Tuesday, September 20, 2016)]
[Notices]
[Page 64552]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22539]



[[Page 64552]]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78840; File No. SR-NYSEArca-2016-100]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To List and Trade Shares of the Direxion Daily Municipal Bond 
Taxable Bear 1X Fund Under NYSE Arca Equities Rule 5.2(j)(3)

September 14, 2016.
    On July 13, 2016, 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 of the Direxion Daily Municipal Bond Taxable Bear 1X Fund. The 
proposed rule change was published for comment in the Federal Register 
on August 3, 2016.\3\ The Commission received no comment letters on the 
proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 78433 (July 28, 
2016), 81 FR 51241.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \4\ 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 
45th day after publication of the notice for this proposed rule change 
is September 17, 2016. The Commission is extending this 45-day time 
period.
---------------------------------------------------------------------------

    \4\ 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 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,\5\ designates November 1, 2016, as the date by which the 
Commission shall either approve or disapprove or institute proceedings 
to determine whether to disapprove the proposed rule change (File 
Number SR-NYSEArca-2016-100).
---------------------------------------------------------------------------

    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Robert W. Errett,
Deputy Secretary.
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

[FR Doc. 2016-22539 Filed 9-19-16; 8:45 am]
 BILLING CODE 8011-01-P

64552 Federal Register / Vol. 81, No. 182 / Tuesday, September 20, 2016 / Notices

SECURITIES AND EXCHANGE proposed rule change (File Number SR– implement the Regulation NMS Plan to
COMMISSION NYSEArca–2016–100). Implement a Tick Size Pilot Program
For the Commission, by the Division of (‘‘Plan’’).4 The Exchange is also
[Release No. 34–78840; File No. SR– Trading and Markets, pursuant to delegated proposing amendments to Rule 3317(a)
NYSEArca–2016–100] authority.6 and (c) to clarify how the Trade-at
Robert W. Errett, exception may be satisfied.
Self-Regulatory Organizations; NYSE Deputy Secretary. The text of the proposed rule
Arca, Inc.; Notice of Designation of a [FR Doc. 2016–22539 Filed 9–19–16; 8:45 am]
change is available on the Exchange’s
Longer Period for Commission Action Web site at http://
BILLING CODE 8011–01–P
on a Proposed Rule Change To List nasdaqphlx.cchwallstreet.com/, at the
and Trade Shares of the Direxion Daily principal office of the Exchange, and at
Municipal Bond Taxable Bear 1X Fund SECURITIES AND EXCHANGE the Commission’s Public Reference
Under NYSE Arca Equities Rule COMMISSION Room.
5.2(j)(3) II. Self-Regulatory Organization’s
[Release No. 34–78835; File No. SR–Phlx–
September 14, 2016. 2016–92] Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
On July 13, 2016, NYSE Arca, Inc. Self-Regulatory Organizations; Change
(‘‘Exchange’’) filed with the Securities NASDAQ PHLX LLC; Notice of Filing of
and Exchange Commission In its filing with the Commission, the
Proposed Rule Change To Describe Exchange included statements
(‘‘Commission’’), pursuant to Section Changes to System Functionality
19(b)(1) of the Securities Exchange Act concerning the purpose of and basis for
Necessary To Implement the Tick Size the proposed rule change and discussed
of 1934 (‘‘Act’’) 1 and Rule 19b–4 Pilot Program
thereunder,2 a proposed rule change to any comments it received on the
list and trade shares of the Direxion September 14, 2016. proposed rule change. The text of these
Daily Municipal Bond Taxable Bear 1X Pursuant to Section 19(b)(1) of the statements may be examined at the
Fund. The proposed rule change was Securities Exchange Act of 1934 places specified in Item IV below. The
published for comment in the Federal (‘‘Act’’) 1, and Rule 19b–4 thereunder,2 Exchange has prepared summaries, set
Register on August 3, 2016.3 The notice is hereby given that on forth in sections A, B, and C below, of
Commission received no comment September 7, 2016, NASDAQ PHLX LLC the most significant aspects of such
letters on the proposed rule change. (‘‘Phlx’’ or ‘‘Exchange’’) filed with the statements.
Section 19(b)(2) of the Act 4 provides Securities and Exchange Commission A. Self-Regulatory Organization’s
that, within 45 days of the publication (‘‘SEC’’ or ‘‘Commission’’) the proposed Statement of the Purpose of, and the
of notice of the filing of a proposed rule rule change as described in Items I, II, Statutory Basis for, the Proposed Rule
change, or within such longer period up and III, below, which Items have been Change
to 90 days as the Commission may prepared by the Exchange. The
Commission is publishing this notice to 1. Purpose
designate if it finds such longer period
to be appropriate and publishes its solicit comments on the proposed rule Background
reasons for so finding or as to which the change from interested persons. On August 25, 2014, NYSE Group,
self-regulatory organization consents, I. Self-Regulatory Organization’s Inc., on behalf of Bats BZX Exchange,
the Commission shall either approve the Statement of the Terms of Substance of Inc. (f/k/a BATS Exchange, Inc.), Bats
proposed rule change, disapprove the the Proposed Rule Change BYX Exchange, Inc. (f/k/a BATS Y-
proposed rule change, or institute Exchange, Inc.), Chicago Stock
proceedings to determine whether the The Exchange proposes to adopt
Exchange, Inc., EDGA Exchange, Inc.,
proposed rule change should be paragraph (d) and Commentary .12 to
EDGX Exchange, Inc., the Exchange,
disapproved. The 45th day after Exchange Rule 3317 to describe changes
Financial Industry Regulatory
publication of the notice for this to System3 functionality necessary to
Authority, Inc. (‘‘FINRA’’), NASDAQ
proposed rule change is September 17, 6 17 BX, Inc., The NASDAQ Stock Market
CFR 200.30–3(a)(31).
2016. The Commission is extending this 1 15 U.S.C. 78s(b)(1). LLC, New York Stock Exchange LLC,
45-day time period. 2 17 CFR 240.19b–4. NYSE Arca, Inc., and the NYSE MKT
The Commission finds that it is 3 The term ‘‘PSX,’’ or ‘‘System’’ is defined as the LLC, (collectively ‘‘Participants’’), filed
appropriate to designate a longer period automated system for order execution and trade the Plan with the Commission pursuant
reporting owned and operated by the Exchange. The
within which to take action on the Exchange will operate PSX as an automated trading
to Section 11A of the Act 5 and Rule 608
proposed rule change so that it has center for purposes of Rule 600(b)(4) of Regulation of Regulation NMS thereunder.6 The
sufficient time to consider the proposed NMS. PSX comprises: (1) A montage for Quotes and Participants filed the Plan to comply
rule change. Accordingly, the Orders, referred to herein as the ‘‘PSX Book’’, that with an order issued by the Commission
collects and ranks all Quotes and Orders submitted
Commission, pursuant to Section by Participants; (2) an Order execution service that
19(b)(2) of the Act,5 designates enables Participants to automatically execute display with attribution to PSX Participants’ MPIDs
all Quotes and Displayed Orders on both the bid
November 1, 2016, as the date by which transactions in System Securities; and provides
and offer side of the market for all price levels then
the Commission shall either approve or Participants with sufficient monitoring and
updating capability to participate in an automated within the PSX Market, and that disseminate such
disapprove or institute proceedings to execution environment; (3) a trade reporting service additional information about Quotes, Orders, and
sradovich on DSK3GMQ082PROD with NOTICES

determine whether to disapprove the that submits ‘‘locked-in’’ trades for clearing to a transactions within PSX as shall be reflected in the
registered clearing agency for clearance and PSX Rules. See Rule 3301(a).
4 See Securities Exchange Act Release No. 74892
1 15 settlement; transmits last-sale reports of
U.S.C. 78s(b)(1). (May 6, 2015), 80 FR 27513 (May 13, 2015)
2 17
transactions automatically to the National Trade
CFR 240.19b–4. Reporting System, if required, for dissemination to (‘‘Approval Order’’).
3 See Securities Exchange Act Release No. 78433 5 15 U.S.C. 78k–1.
the public and industry; and provides participants
(July 28, 2016), 81 FR 51241. with monitoring and risk management capabilities 6 See Letter from Brendon J. Weiss, Vice
4 15 U.S.C. 78s(b)(2).
to facilitate participation in a ‘‘locked-in’’ trading President, Intercontinental Exchange, Inc., to
5 Id. environment; and (4) data feeds that can be used to Secretary, Commission, dated August 25, 2014.

VerDate Sep<11>2014 17:13 Sep 19, 2016 Jkt 238001 PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 E:\FR\FM\20SEN1.SGM 20SEN1

Document Created: 2018-02-09 13:20:38
Document Modified: 2018-02-09 13:20:38

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 64552