81 FR 8557 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendment Nos. 1, 2, and 3 Thereto, To List and Trade Shares of the REX Gold Hedged S&P 500 ETF and the REX Gold Hedged FTSE Emerging Markets ETF Under NYSE Arca Equities Rule 8.600

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 33 (February 19, 2016)

Page Range		8557-8558
FR Document		2016-03391

Federal Register, Volume 81 Issue 33 (Friday, February 19, 2016)

[Federal Register Volume 81, Number 33 (Friday, February 19, 2016)]
[Notices]
[Pages 8557-8558]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2016-03391]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77128; File No. SR-NYSEArca-2015-107]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proposed Rule
Change, as Modified by Amendment Nos. 1, 2, and 3 Thereto, To List and
Trade Shares of the REX Gold Hedged S&P 500 ETF and the REX Gold Hedged
FTSE Emerging Markets ETF Under NYSE Arca Equities Rule 8.600

February 12, 2016.
On December 10, 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 of the REX Gold Hedged S&P 500 ETF and the REX Gold Hedged FTSE
Emerging Markets ETF under NYSE Arca Equities Rule 8.600. The proposed
rule change was published for comment in the Federal

[[Page 8558]]

Register on December 30, 2015.\3\ On January 15, 2016, the Exchange
submitted Amendment No. 1 to the proposed rule change.\4\ On January
27, 2016, the Exchange submitted Amendment No. 2 to the proposed rule
change.\5\ On February 11, 2016, the Exchange submitted Amendment No. 3
to the proposed rule change.\6\ The Commission has received no comments
on the proposal.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 76761 (December 23,
2015), 80 FR 81564.
\4\ In Amendment No. 1, which replaced and superseded the
original filing in its entirety, the Exchange clarified the Funds'
direct and indirect principal and other investments; the
determination of the value of certain underlying assets for purposes
of the Funds' net asset value calculation; and the availability of
price information for certain underlying assets. Because Amendment
No. 1 is a technical amendment that adds clarification to the
proposal and does not materially alter the substance of the proposed
rule change or raise unique or novel regulatory issues, Amendment
No. 1 is not subject to notice and comment (Amendment No. 1 to the
proposed rule change is available at: http://www.sec.gov/comments/sr-nysearca-2015-107/nysearca2015107-1.pdf).
\5\ In Amendment No. 2, the Exchange made additional clarifying
changes regarding the Funds' other investments; the availability of
price information for certain underlying assets; and the
dissemination of the Portfolio Indicative Value. Because Amendment
No. 2 is a technical amendment that adds clarification to the
proposal and does not materially alter the substance of the proposed
rule change or raise unique or novel regulatory issues, Amendment
No. 2 is not subject to notice and comment (Amendment No. 2 to the
proposed rule change is available at: http://www.sec.gov/comments/sr-nysearca-2015-107/nysearca2015107-2.pdf).
\6\ In Amendment No. 3, the Exchange expanded the application of
the criteria for non-U.S. equity securities in the REX Gold Hedged
FTSE Emerging Markets ETF portfolio so that they will apply on a
continual basis. Because Amendment No. 3 does not materially alter
the substance of the proposed rule change or raise unique or novel
regulatory issues, Amendment No. 3 is not subject to notice and
comment.
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Section 19(b)(2) of the Act \7\ 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 February 13, 2016. The Commission is extending this 45-day time
period.
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\7\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider this proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\8\ designates
March 29, 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 No. SR-NYSEArca-2015-107),
as modified by Amendment Nos. 1, 2, and 3 thereto.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ 17 CFR 200.30-3(a)(31).

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-03391 Filed 2-18-16; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 33 / Friday, February 19, 2016 / Notices 8557

MARS uniformly applied to all qualifying communications relating to the
MARS Eligible Contracts NOM Participants. proposed rule change between the
Commission and any person, other than
The Exchange’s proposal to replace C. Self-Regulatory Organization’s
those that may be withheld from the
the 5,000 Eligible Contracts with ADVs Statement on Comments on the
public in accordance with the
of either: 2,500, 5,000 or 10,000 does not Proposed Rule Change Received From
provisions of 5 U.S.C. 552, will be
impose an undue burden on intra- Members, Participants, or Others
available for Web site viewing and
market competition because the criteria No written comments were either printing in the Commission’s Public
for Eligible Contracts and ADVs will be solicited or received. Reference Room, 100 F Street NE.,
uniformly applied to all qualifying Washington, DC 20549 on official
NOM Participants. Also, only counting III. Date of Effectiveness of the
Proposed Rule Change and Timing for business days between the hours of
add liquidity from Firms, Non-NOM 10:00 a.m. and 3:00 p.m. Copies of such
Market Makers, Broker-Dealers, JBOs Commission Action
filing also will be available for
and Professionals which are The foregoing rule change has become inspection and copying at the principal
electronically delivered and executed effective pursuant to Section office of the Exchange. All comments
does not impose an undue burden on 19(b)(3)(A)(ii) of the Act.31 received will be posted without change;
intra-market competition because the At any time within 60 days of the the Commission does not edit personal
Exchange will uniformly calculate the filing of the proposed rule change, the identifying information from
number of Eligible Contracts for all Commission summarily may submissions. You should submit only
NOM Participants. temporarily suspend such rule change if information that you wish to make
MARS Payment it appears to the Commission that such available publicly. All submissions
action is: (i) Necessary or appropriate in should refer to File Number SR–
The Exchange’s proposal to replace the public interest; (ii) for the protection
the $0.10 per contract MARS Payment NASDAQ–2016–015, and should be
of investors; or (iii) otherwise in submitted on or before March 11, 2016.
with a 3 tiered MARS Payment based on furtherance of the purposes of the Act.
Eligible Contract ADVs does not impose If the Commission takes such action, the For the Commission, by the Division of
an undue burden on intra-market Trading and Markets, pursuant to delegated
Commission shall institute proceedings
competition because the Exchange will authority.32
to determine whether the proposed rule
uniformly pay all NOM Participants the Robert W. Errett,
should be approved or disapproved.
proposed 3 tiered MARS Payments Deputy Secretary.
provided the NOM Participant has IV. Solicitation of Comments [FR Doc. 2016–03390 Filed 2–18–16; 8:45 am]
executed the requisite number of Interested persons are invited to BILLING CODE 8011–01–P
Eligible Contracts. Moreover, the submit written data, views, and
Exchange believes that the proposed arguments concerning the foregoing,
MARS Payments offered by the including whether the proposed rule SECURITIES AND EXCHANGE
Exchange does not impose an undue change is consistent with the Act. COMMISSION
burden on intra-market competition Comments may be submitted by any of
because any qualifying NOM Participant the following methods: [Release No. 34–77128; File No. SR–
that offers market access and NYSEArca–2015–107]
connectivity to the Exchange and/or Electronic Comments
utilizes such functionality themselves • Use the Commission’s Internet Self-Regulatory Organizations; NYSE
may earn the MARS Payment for all comment form (http://www.sec.gov/ Arca, Inc.; Notice of Designation of a
Eligible Contracts. rules/sro.shtml); or Longer Period for Commission Action
The Exchange’s proposal to pay the • Send an email to rule-comments@ on Proposed Rule Change, as Modified
applicable MARS Payment on all sec.gov. Please include File Number SR– by Amendment Nos. 1, 2, and 3
executed Eligible Contracts that add NASDAQ–2016–015 on the subject line. Thereto, To List and Trade Shares of
liquidity, which are routed to NOM the REX Gold Hedged S&P 500 ETF
Paper Comments
through a participating NOM and the REX Gold Hedged FTSE
Participant’s System, does not impose • Send paper comments in triplicate Emerging Markets ETF Under NYSE
an undue burden on intra-market to Brent J. Fields, Secretary, Securities Arca Equities Rule 8.600
competition because the Exchange will and Exchange Commission, 100 F Street
uniformly calculate the MARS Payment NE., Washington, DC 20549–1090. February 12, 2016.
for all NOM Participants and uniformly All submissions should refer to File On December 10, 2015, NYSE Arca,
pay the MARS Payment on all executed Number SR–NASDAQ–2016–015. This Inc. (‘‘Exchange’’) filed with the
Eligible Contracts that add liquidity, file number should be included on the Securities and Exchange Commission
which are routed to NOM through a subject line if email is used. To help the (‘‘Commission’’), pursuant to Section
participating NOM Participant’s System. Commission process and review your 19(b)(1) of the Securities Exchange Act
The Exchange believes that paying the comments more efficiently, please use of 1934 (‘‘Act’’) 1 and Rule 19b–4
proposed MARS Payment to qualifying only one method. The Commission will thereunder,2 a proposed rule change to
NOM Participants that have System post all comments on the Commission’s list and trade shares of the REX Gold
eligibility and have executed the Internet Web site (http://www.sec.gov/
asabaliauskas on DSK5VPTVN1PROD with NOTICES

Hedged S&P 500 ETF and the REX Gold
Eligible Contracts does not create an rules/sro.shtml). Copies of the Hedged FTSE Emerging Markets ETF
undue burden on intra-market submission, all subsequent under NYSE Arca Equities Rule 8.600.
competition, even when a different amendments, all written statements The proposed rule change was
NOM Participant, other than the NOM with respect to the proposed rule published for comment in the Federal
Participant receiving the subsidy, may change that are filed with the
be liable for transaction charges, Commission, and all written 32 17 CFR 200.30–3(a)(12).
because this sort of arrangement already 1 15 U.S.C. 78s(b)(1).
exists on the Exchange and would be 31 15 U.S.C. 78s(b)(3)(A)(ii). 2 17 CFR 240.19b–4.

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8558 Federal Register / Vol. 81, No. 33 / Friday, February 19, 2016 / Notices

Register on December 30, 2015.3 On proceedings to determine whether the III below, which Items have been
January 15, 2016, the Exchange proposed rule change should be prepared by the Exchange. The
submitted Amendment No. 1 to the disapproved. The 45th day after Commission is publishing this notice to
proposed rule change.4 On January 27, publication of the notice for this solicit comments on the proposed rule
2016, the Exchange submitted proposed rule change is February 13, change from interested persons.
Amendment No. 2 to the proposed rule 2016. The Commission is extending this
change.5 On February 11, 2016, the 45-day time period. I. Self-Regulatory Organization’s
Exchange submitted Amendment No. 3 The Commission finds it appropriate Statement of the Terms of Substance of
to the proposed rule change.6 The to designate a longer period within the Proposed Rule Change
Commission has received no comments which to take action on the proposed The Exchange proposes to amend its
on the proposal. rule change so that it has sufficient time Options Pricing at Chapter XV Section
Section 19(b)(2) of the Act 7 provides to consider this proposed rule change. 2, entitled ‘‘BX Options Market—Fees
that within 45 days of the publication of Accordingly, the Commission, pursuant and Rebates,’’ which governs pricing for
notice of the filing of a proposed rule to Section 19(b)(2) of the Act,8 BX members using the BX Options
change, or within such longer period up designates March 29, 2016, as the date Market (‘‘BX Options’’). The Exchange
to 90 days as the Commission may by which the Commission shall either proposes to modify certain fees and
designate if it finds such longer period approve or disapprove, or institute rebates (per executed contract) to: (1)
to be appropriate and publishes its proceedings to determine whether to
Adopt fees and rebates applicable to
reasons for so finding, or as to which the disapprove, the proposed rule change
Firm 3 and (2) adopt tiers applicable to
self-regulatory organization consents, (File No. SR–NYSEArca–2015–107), as
options overlying Standard and Poor’s
the Commission shall either approve the modified by Amendment Nos. 1, 2, and
Depositary Receipts/SPDRs (‘‘SPY’’).4
proposed rule change, disapprove the 3 thereto.
proposed rule change, or institute For the Commission, by the Division of
The text of the proposed rule change
Trading and Markets, pursuant to delegated is available on the Exchange’s Web site
3 See Securities Exchange Act Release No. 76761
authority.9 at http://nasdaqomxbx.
(December 23, 2015), 80 FR 81564. cchwallstreet.com/, at the principal
4 In Amendment No. 1, which replaced and
Robert W. Errett,
Deputy Secretary.
office of the Exchange, and at the
superseded the original filing in its entirety, the
Exchange clarified the Funds’ direct and indirect
Commission’s Public Reference Room.
[FR Doc. 2016–03391 Filed 2–18–16; 8:45 am]
principal and other investments; the determination II. Self-Regulatory Organization’s
BILLING CODE 8011–01–P
of the value of certain underlying assets for
purposes of the Funds’ net asset value calculation; Statement of the Purpose of, and
and the availability of price information for certain Statutory Basis for, the Proposed Rule
underlying assets. Because Amendment No. 1 is a SECURITIES AND EXCHANGE Change
technical amendment that adds clarification to the COMMISSION
proposal and does not materially alter the substance In its filing with the Commission, the
of the proposed rule change or raise unique or novel [Release No. 34–77129; File No. SR–BX–
regulatory issues, Amendment No. 1 is not subject
Exchange included statements
2016–010]
to notice and comment (Amendment No. 1 to the concerning the purpose of and basis for
proposed rule change is available at: http:// Self-Regulatory Organizations; the proposed rule change and discussed
www.sec.gov/comments/sr-nysearca-2015-107/
NASDAQ BX, Inc.; Notice of Filing and any comments it received on the
nysearca2015107-1.pdf). proposed rule change. The text of these
5 In Amendment No. 2, the Exchange made Immediate Effectiveness of Proposed
additional clarifying changes regarding the Funds’ Rule Change Regarding Fees and statements may be examined at the
other investments; the availability of price Rebates Applicable to Firms and To places specified in Item IV below. The
information for certain underlying assets; and the Adopt Tiers Applicable to Options Exchange has prepared summaries, set
dissemination of the Portfolio Indicative Value.
Overlying SPY forth in sections A, B, and C below, of
Because Amendment No. 2 is a technical the most significant aspects of such
amendment that adds clarification to the proposal
and does not materially alter the substance of the
February 12, 2016. statements.
proposed rule change or raise unique or novel Pursuant to Section 19(b)(1) of the
regulatory issues, Amendment No. 2 is not subject Securities Exchange Act of 1934 3 The term ‘‘Firm’’ or (‘‘F’’) applies to any

to notice and comment (Amendment No. 2 to the (‘‘Act’’),1 and Rule 19b–4 thereunder,2 transaction that is identified by a Participant for
proposed rule change is available at: http:// clearing in the Firm range at OCC. BX Chapter XV.
www.sec.gov/comments/sr-nysearca-2015-107/
notice is hereby given that on February 4 SPY options are based on the SPDR exchange-
nysearca2015107-2.pdf). 1, 2016, NASDAQ BX, Inc. (‘‘BX’’ or traded fund (‘‘ETF’’), which is designed to track the
6 In Amendment No. 3, the Exchange expanded ‘‘Exchange’’) filed with the Securities performance of the S&P 500 Index, and are Penny
the application of the criteria for non-U.S. equity and Exchange Commission (‘‘SEC’’ or Pilot Options. The Penny Pilot was established in
securities in the REX Gold Hedged FTSE Emerging ‘‘Commission’’) the proposed rule June 2012 and extended in 2015. See Securities
Markets ETF portfolio so that they will apply on a Exchange Act Release Nos. 67256 (June 26, 2012),
change as described in Items I, II, and
continual basis. Because Amendment No. 3 does 77 FR 39277 (July 2, 2012) (SR–BX–2012–030)
not materially alter the substance of the proposed (order approving BX option rules and establishing
8 15 U.S.C. 78s(b)(2).
rule change or raise unique or novel regulatory Penny Pilot); and 75326 (June 29, 2015), 80 FR
9 17 CFR 200.30–3(a)(31).
issues, Amendment No. 3 is not subject to notice 38481 (July 6, 2015) (SR–BX–2015–037) (notice of
and comment. 1 15 U.S.C. 78s(b)(1).
filing and immediate effectiveness extending the
7 15 U.S.C. 78s(b)(2). 2 17 CFR 240.19b–4. Penny Pilot through June 30, 2016).
asabaliauskas on DSK5VPTVN1PROD with NOTICES

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Document Created: 2018-02-02 14:32:04
Document Modified: 2018-02-02 14:32:04

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 8557