81 FR 86358 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Ministerial and Corrective Changes to Exchange Rules 11.13, 11.16, 11.22, and 11.27

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 230 (November 30, 2016)

Page Range		86358-86360
FR Document		2016-28775
Federal Register, Volume 81 Issue 230 (Wednesday, November 30, 2016)
[Federal Register Volume 81, Number 230 (Wednesday, November 30, 2016)]
[Notices]
[Pages 86358-86360]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28775]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79385; File No. SR-BatsBZX-2016-77]


Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Make 
Ministerial and Corrective Changes to Exchange Rules 11.13, 11.16, 
11.22, and 11.27

November 23, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on November 16, 2016, Bats BZX Exchange, Inc. (the ``Exchange'' or 
``BZX'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I, II, 
and III, below, which Items have been prepared by the Exchange. The 
Exchange has designated this proposal as a ``non-controversial'' 
proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and 
Rule 19b-4(f)(6)(iii) thereunder,\4\ which renders it effective upon 
filing with the Commission. The Commission is publishing this notice to 
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6)(iii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange filed a proposal to make ministerial and corrective 
changes to Exchange Rules 11.13(b), 11.16(g)(4), 11.22(f), and 
11.27(a)(7)(A)(i)2.
    The text of the proposed rule change is available at the Exchange's 
Web site

[[Page 86359]]

at www.batstrading.com, at the principal office of the Exchange, 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, the Exchange 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. The Exchange has prepared summaries, set forth in 
Sections A, B, and C below, of the most significant parts of such 
statements.

(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to make ministerial and corrective changes to 
Exchange Rules 11.13(b), 11.16(g)(4), 11.22(f), and 11.27(a)(7)(A)(i)2. 
First, the Exchange proposed to amend Rule 11.13(b) to correct an 
incorrect cross reference. Exchange Rule 11.13(b) states that depending 
on the instructions set by the User \5\ when the incoming order was 
originally entered, if a market or marketable limit order has not been 
executed in its entirety pursuant to Exchange Rule 11.13(a) above, the 
order shall be eligible for additional processing under one or more of 
the routing options listed under paragraph (a)(3) of Rule 11.13. The 
reference to paragraph (a)(3) of Rule 11.13 is incorrect as the routing 
options are listing under paragraph (b)(3) of Rule 11.13. Therefore, 
the Exchange proposes to replace reference to paragraph (a)(3) with 
paragraph (b)(3).
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    \5\ See Exchange Rule 1.5(cc).
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    Second, the Exchange proposes to amend Rule 11.16(g)(4) to delete 
an unnecessary cross reference. Exchange Rule 11.16(a)(4) states that 
``[t]he pass-through of any compensation to a Member in accordance with 
this subparagraph (g) is unrelated to any other claims for compensation 
that are made in accordance with, and subject to the limits of, 
subparagraph (d) of this Rule 11.16.'' The Exchange now proposes to 
delete reference to ``11.16'' as a specific reference to the rule is 
not integral nor necessary to the meaning or application of Rule 11.16 
generally.\6\
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    \6\ Removal of the rule reference would also harmonize the rule 
language with similar rule of the Exchange's affiliates, Bats EDGA 
Exchange, Inc. and Bats EDGX Exchange, Inc. SR-Bats-EDGX-2016-65 and 
SR-BatsEDGA-2016-28.
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    Third, the Exchange proposes to amend Rule 11.22(f) to delete a 
description of the Latency Monitoring data product, which the Exchange 
ceased to offer in May 2015. The Exchange determined that the customer 
demand at that time did not warrant the infrastructure and ongoing 
maintenance expense required to support the product.
    Lastly, the Exchange proposes to amend Rule 11.27(a)(7)(A)(i)2 to 
correct a typographical error by replacing the phrase ``one of more'' 
with ``one or more''.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act \7\ in general, and furthers the objectives of Section 
6(b)(5) of the Act \8\ in particular, in that it is designed 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.
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    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes the proposed changes 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 
because they seek to correct an incorrect cross-reference and 
typographical error, harmonize identical rules with the Exchange's 
affiliates, as well as eliminate a reference [sic] a market data 
product that is no longer provided. The Exchange notes the changes to 
Exchange Rules 11.13(b), 11.16(a)(4), and 11.27(a)(7)(A)(i)2 are 
ministerial and do not alter the applications of each rule. In 
addition, the deletion of references to the Latency Monitoring Data 
product removes references to a product the Exchange no longer provides 
and that the Exchange is not required by any rule or regulation to 
offer. As such, the proposed amendments would foster cooperation and 
coordination with persons engaged in facilitating transactions in 
securities and would remove impediments to and perfect the mechanism of 
a free and open market and a national market system.

(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. On the contrary, the 
proposed rule change will have no impact on competition as it is simply 
makes ministerial and corrective changes while not altering the meaning 
or application of each rule.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants or Others

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any written comments from members or other interested parties.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed rule change does not: (A) 
Significantly affect the protection of investors or the public 
interest; (B) impose any significant burden on competition; and (C) by 
its terms, 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 \9\ and 
paragraph (f)(6) of Rule 19b-4 thereunder,\10\ the Exchange has 
designated this rule filing as non-controversial. The Exchange has 
given the Commission written notice of its intent to file the proposed 
rule change, along with a brief description and 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.
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    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4.
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    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: (1) 
Necessary or appropriate in the public interest; (2) for the protection 
of investors; or (3) 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 proposal is 
consistent with the Act. Comments may be submitted by any of the 
following methods:

[[Page 86360]]

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File No. SR-BatsBZX-2016-77 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 No. SR-BatsBZX-2016-77. 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 No. SR-BatsBZX-2016-77 and should be 
submitted on or before December 21, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-28775 Filed 11-29-16; 8:45 am]
 BILLING CODE 8011-01-P
86358 Federal Register / Vol. 81, No. 230 / Wednesday, November 30, 2016 / Notices

to make amendments to Exchange rules At any time within 60 days of the the Commission does not edit personal
to streamline the operation of Reserve filing of the proposed rule change, the identifying information from
Orders on the Exchange by removing Commission summarily may submissions. You should submit only
little-used functionality that allowed temporarily suspend such rule change if information that you wish to make
Reserve Orders to be combined with Q it appears to the Commission that such available publicly. All submissions
Orders. action is necessary or appropriate in the should refer to File Number SR–
public interest, for the protection of NYSEArca–2016–151 and should be
C. Self-Regulatory Organization’s
investors, or otherwise in furtherance of submitted on or before December 21,
Statement on Comments on the
the purposes of the Act. If the 2016.
Proposed Rule Change Received From
Commission takes such action, the For the Commission, by the Division of
Members, Participants, or Others
Commission shall institute proceedings Trading and Markets, pursuant to delegated
No written comments were solicited to determine whether the proposed rule authority.12
or received with respect to the proposed change should be approved or
rule change. disapproved. Robert W. Errett,
III. Date of Effectiveness of the IV. Solicitation of Comments Deputy Secretary.
Proposed Rule Change and Timing for [FR Doc. 2016–28781 Filed 11–29–16; 8:45 am]
Interested persons are invited to
Commission Action BILLING CODE 8011–01–P
submit written data, views, and
Because the proposed rule change arguments concerning the foregoing,
does not (i) significantly affect the including whether the proposed rule
protection of investors or the public SECURITIES AND EXCHANGE
change is consistent with the Act.
interest; (ii) impose any significant COMMISSION
Comments may be submitted by any of
burden on competition; and (iii) become the following methods: [Release No. 34–79385; File No. SR–
operative for 30 days from the date on BatsBZX–2016–77]
which it was filed, or such shorter time Electronic Comments
as the Commission may designate, it has • Use the Commission’s Internet Self-Regulatory Organizations; Bats
become effective pursuant to Section comment form (http://www.sec.gov/ BZX Exchange, Inc.; Notice of Filing
19(b)(3)(A) of the Act 7 and Rule 19b– rules/sro.shtml); or and Immediate Effectiveness of a
4(f)(6) thereunder.8 • Send an email to rule- Proposed Rule Change To Make
A proposed rule change filed comments@sec.gov. Please include File Ministerial and Corrective Changes to
pursuant to Rule 19b–4(f)(6) under the Number SR–NYSEArca–2016–151 on Exchange Rules 11.13, 11.16, 11.22,
Act 9 normally does not become the subject line. and 11.27
operative for 30 days after the date of its
Paper Comments November 23, 2016.
filing. However, Rule 19b–4(f)(6)(iii) 10
permits the Commission to designate a • Send paper comments in triplicate Pursuant to Section 19(b)(1) of the
shorter time if such action is consistent to Brent J. Fields, Secretary, Securities Securities Exchange Act of 1934 (the
with the protection of investors and the and Exchange Commission, 100 F Street ‘‘Act’’),1 and Rule 19b–4 thereunder,2
public interest. The Exchange has asked NE., Washington, DC 20549–1090. notice is hereby given that on November
the Commission to waive the 30-day All submissions should refer to File 16, 2016, Bats BZX Exchange, Inc. (the
operative delay so that the proposal may Number SR–NYSEArca–2016–151. This ‘‘Exchange’’ or ‘‘BZX’’) filed with the
become operative immediately upon file number should be included on the Securities and Exchange Commission
filing. According to the Exchange, this subject line if email is used. To help the (‘‘Commission’’) the proposed rule
proposal would eliminate functionality Commission process and review your change as described in Items I, II, and
not used by market participants, and the comments more efficiently, please use III, below, which Items have been
Exchange anticipates that the only one method. The Commission will prepared by the Exchange. The
technology supporting the change will post all comments on the Commission’s Exchange has designated this proposal
be available in less than 30 days after Internet Web site (http://www.sec.gov/ as a ‘‘non-controversial’’ proposed rule
filing. The Commission believes the rules/sro.shtml). Copies of the change pursuant to Section 19(b)(3)(A)
waiver of the operative delay is submission, all subsequent of the Act 3 and Rule 19b–4(f)(6)(iii)
consistent with the protection of amendments, all written statements thereunder,4 which renders it effective
investors and the public interest. with respect to the proposed rule upon filing with the Commission. The
Therefore, the Commission hereby change that are filed with the Commission is publishing this notice to
waives the operative delay and Commission, and all written solicit comments on the proposed rule
designates the proposal operative upon communications relating to the change from interested persons.
filing.11 proposed rule change between the I. Self-Regulatory Organization’s
Commission and any person, other than Statement of the Terms of Substance of
7 15 U.S.C. 78s(b)(3)(A). those that may be withheld from the the Proposed Rule Change
8 17 CFR 240.19b–4(f)(6). As required under Rule public in accordance with the
19b–4(f)(6)(iii), the Exchange provided the The Exchange filed a proposal to
Commission with written notice of its intent to file provisions of 5 U.S.C. 552, will be
make ministerial and corrective changes
the proposed rule change, along with a brief available for Web site viewing and
description and the text of the proposed rule to Exchange Rules 11.13(b), 11.16(g)(4),
printing in the Commission’s Public
change, at least five business days prior to the date 11.22(f), and 11.27(a)(7)(A)(i)2.
Reference Room, 100 F Street NE.,
sradovich on DSK3GMQ082PROD with NOTICES

of filing of the proposed rule change, or such The text of the proposed rule change
shorter time as designated by the Commission. Washington, DC 20549 on official
is available at the Exchange’s Web site
9 17 CFR 240.19b–4(f)(6). business days between the hours of
10 17 CFR 240.19b–4(f)(6)(iii).
10:00 a.m. and 3:00 p.m. Copies of the 12 17 CFR 200.30–3(a)(12).
11 For purposes only of waiving the 30-day
filing also will be available for 1 15 U.S.C. 78s(b)(1).
operative delay, the Commission has also
considered the proposed rule’s impact on
inspection and copying at the principal 2 17 CFR 240.19b–4.

efficiency, competition, and capital formation. See office of the Exchange. All comments 3 15 U.S.C. 78s(b)(3)(A).

15 U.S.C. 78c(f). received will be posted without change; 4 17 CFR 240.19b–4(f)(6)(iii).

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Federal Register / Vol. 81, No. 230 / Wednesday, November 30, 2016 / Notices 86359

at www.batstrading.com, at the Third, the Exchange proposes to of the purposes of the Act. On the
principal office of the Exchange, and at amend Rule 11.22(f) to delete a contrary, the proposed rule change will
the Commission’s Public Reference description of the Latency Monitoring have no impact on competition as it is
Room. data product, which the Exchange simply makes ministerial and corrective
ceased to offer in May 2015. The changes while not altering the meaning
II. Self-Regulatory Organization’s
Exchange determined that the customer or application of each rule.
Statement of the Purpose of, and
demand at that time did not warrant the
Statutory Basis for, the Proposed Rule (C) Self-Regulatory Organization’s
infrastructure and ongoing maintenance
Change Statement on Comments on the
expense required to support the
In its filing with the Commission, the product. Proposed Rule Change Received From
Exchange included statements Lastly, the Exchange proposes to Members, Participants or Others
concerning the purpose of and basis for amend Rule 11.27(a)(7)(A)(i)2 to correct The Exchange has not solicited, and
the proposed rule change and discussed a typographical error by replacing the does not intend to solicit, comments on
any comments it received on the phrase ‘‘one of more’’ with ‘‘one or this proposed rule change. The
proposed rule change. The text of these more’’. Exchange has not received any written
statements may be examined at the comments from members or other
places specified in Item IV below. The 2. Statutory Basis
interested parties.
Exchange has prepared summaries, set The Exchange believes that its
forth in Sections A, B, and C below, of proposal is consistent with Section 6(b) III. Date of Effectiveness of the
the most significant parts of such of the Act 7 in general, and furthers the Proposed Rule Change and Timing for
statements. objectives of Section 6(b)(5) of the Act 8 Commission Action
in particular, in that it is designed to
(A) Self-Regulatory Organization’s Because the foregoing proposed rule
promote just and equitable principles of
Statement of the Purpose of, and change does not: (A) Significantly affect
trade, to remove impediments to and
Statutory Basis for, the Proposed Rule the protection of investors or the public
perfect the mechanism of a free and
Change interest; (B) impose any significant
open market and a national market
system, and, in general to protect burden on competition; and (C) by its
1. Purpose
investors and the public interest. terms, become operative for 30 days
The Exchange proposes to make from the date on which it was filed or
The Exchange believes the proposed
ministerial and corrective changes to such shorter time as the Commission
changes promote just and equitable
Exchange Rules 11.13(b), 11.16(g)(4), may designate it has become effective
principles of trade, to remove
11.22(f), and 11.27(a)(7)(A)(i)2. First, the pursuant to Section 19(b)(3)(A) of the
impediments to and perfect the
Exchange proposed to amend Rule Act 9 and paragraph (f)(6) of Rule 19b–
mechanism of a free and open market
11.13(b) to correct an incorrect cross 4 thereunder,10 the Exchange has
and a national market system because
reference. Exchange Rule 11.13(b) states designated this rule filing as non-
they seek to correct an incorrect cross-
that depending on the instructions set controversial. The Exchange has given
reference and typographical error,
by the User 5 when the incoming order the Commission written notice of its
harmonize identical rules with the
was originally entered, if a market or intent to file the proposed rule change,
Exchange’s affiliates, as well as
marketable limit order has not been along with a brief description and text
eliminate a reference [sic] a market data
executed in its entirety pursuant to of the proposed rule change at least five
product that is no longer provided. The
Exchange Rule 11.13(a) above, the order business days prior to the date of filing
Exchange notes the changes to Exchange
shall be eligible for additional of the proposed rule change, or such
Rules 11.13(b), 11.16(a)(4), and
processing under one or more of the shorter time as designated by the
11.27(a)(7)(A)(i)2 are ministerial and do
routing options listed under paragraph Commission.
not alter the applications of each rule.
(a)(3) of Rule 11.13. The reference to
In addition, the deletion of references to At any time within 60 days of the
paragraph (a)(3) of Rule 11.13 is
the Latency Monitoring Data product filing of the proposed rule change, the
incorrect as the routing options are
removes references to a product the Commission summarily may
listing under paragraph (b)(3) of Rule
Exchange no longer provides and that temporarily suspend such rule change if
11.13. Therefore, the Exchange proposes
the Exchange is not required by any rule it appears to the Commission that such
to replace reference to paragraph (a)(3)
or regulation to offer. As such, the action is: (1) Necessary or appropriate in
with paragraph (b)(3).
Second, the Exchange proposes to proposed amendments would foster the public interest; (2) for the protection
amend Rule 11.16(g)(4) to delete an cooperation and coordination with of investors; or (3) otherwise in
unnecessary cross reference. Exchange persons engaged in facilitating furtherance of the purposes of the Act.
Rule 11.16(a)(4) states that ‘‘[t]he pass- transactions in securities and would If the Commission takes such action, the
through of any compensation to a remove impediments to and perfect the Commission shall institute proceedings
mechanism of a free and open market to determine whether the proposed rule
Member in accordance with this
and a national market system. should be approved or disapproved.
subparagraph (g) is unrelated to any
other claims for compensation that are (B) Self-Regulatory Organization’s IV. Solicitation of Comments
made in accordance with, and subject to Statement on Burden on Competition
the limits of, subparagraph (d) of this Interested persons are invited to
The Exchange does not believe that submit written data, views and
Rule 11.16.’’ The Exchange now the proposed rule change will impose arguments concerning the foregoing,
sradovich on DSK3GMQ082PROD with NOTICES

proposes to delete reference to ‘‘11.16’’ any burden on competition that is not
as a specific reference to the rule is not including whether the proposal is
necessary or appropriate in furtherance consistent with the Act. Comments may
integral nor necessary to the meaning or
application of Rule 11.16 generally.6 be submitted by any of the following
Exchange’s affiliates, Bats EDGA Exchange, Inc. and
Bats EDGX Exchange, Inc. SR–Bats–EDGX–2016–65
methods:
5 See
Exchange Rule 1.5(cc). and SR–BatsEDGA–2016–28.
6 Removal 7 15 U.S.C. 78f(b). 9 15 U.S.C. 78s(b)(3)(A).
of the rule reference would also
harmonize the rule language with similar rule of the 8 15 U.S.C. 78f(b)(5). 10 17 CFR 240.19b–4.

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86360 Federal Register / Vol. 81, No. 230 / Wednesday, November 30, 2016 / Notices

Electronic Comments SECURITIES AND EXCHANGE 2016, the Commission instituted
COMMISSION proceedings under Section 19(b)(2)(B) of
• Use the Commission’s Internet the Act 7 to determine whether to
comment form (http://www.sec.gov/ [Release No. 34–79384; File No. SR–
approve or disapprove the proposed
rules/sro.shtml); or NYSEArca–2016–70]
rule change, as modified by Amendment
• Send an email to rule-comments@ Self-Regulatory Organizations; NYSE No. 1 thereto.8 In the Order Instituting
sec.gov. Please include File No. SR– Arca, Inc.; Order Granting Approval of Proceedings, the Commission solicited
BatsBZX–2016–77 on the subject line. Proposed Rule Proposed Rule Change, comments to specified matters related to
as Modified by Amendment Nos. 1 and the proposal.9 On November 22, 2016,
Paper Comments 2 Thereto, Regarding Use of Rule 144A the Exchange filed Amendment No. 2 to
Securities by the Fidelity Corporate the proposed rule change.10 The
• Send paper comments in triplicate Commission has received no comments
to Secretary, Securities and Exchange Bond ETF, Fidelity Investment Grade
Bond ETF, Fidelity Limited Term Bond on the proposed rule change. This order
Commission, 100 F Street NE., grants approval of the proposed rule
Washington, DC 20549–1090. ETF, and Fidelity Total Bond ETF
change, as modified by Amendment
All submissions should refer to File No. November 23, 2016. Nos. 1 and 2 thereto.
SR–BatsBZX–2016–77. This file number I. Introduction II. Exchange’s Description of the
should be included on the subject line On May 11, 2016, NYSE Arca, Inc. Proposal
if email is used. To help the (‘‘Exchange’’) filed with the Securities The Commission approved the listing
Commission process and review your and Exchange Commission and trading of shares (‘‘Shares’’) of the
comments more efficiently, please use (‘‘Commission’’), pursuant to Section Funds under NYSE Arca Equities Rule
only one method. The Commission will 19(b)(1) of the Securities Exchange Act 8.600,11 which governs the listing and
post all comments on the Commission’s of 1934 (‘‘Act’’ or ‘‘Exchange Act’’) 1 and
Internet Web site (http://www.sec.gov/ Rule 19b–4 thereunder,2 a proposed rule Funds reported to TRACE. Amendment No. 1 is
rules/sro.shtml). Copies of the change to permit the Fidelity Corporate available at: https://www.sec.gov/comments/sr-
nysearca-2016-70/nysearca201670-1.pdf. Because
submission, all subsequent Bond ETF, Fidelity Investment Grade Amendment No. 1 to the proposed rule change does
amendments, all written statements Bond ETF, Fidelity Limited Term Bond not materially alter the substance of the proposed
with respect to the proposed rule ETF, and Fidelity Total Bond ETF rule change or raise unique or novel regulatory
(individually, ‘‘Fund,’’ and collectively, issues, Amendment No. 1 is not subject to notice
change that are filed with the and comment.
Commission, and all written ‘‘Funds’’) to consider securities issued 7 15 U.S.C. 78s(b)(2)(B).

communications relating to the pursuant to Rule 144A under the 8 See Securities Exchange Act Release No. 78712,

proposed rule change between the Securities Act of 1933 (‘‘Securities Act’’) 81 FR 60759 (Sept. 2, 2016) (‘‘Order Instituting
Commission and any person, other than as debt securities eligible for principal Proceedings’’). Specifically, the Commission
investment. The proposed rule change instituted proceedings to allow for additional
those that may be withheld from the analysis of the proposed rule change’s consistency
public in accordance with the was published for comment in the with Section 6(b)(5) of the Act, which requires,
provisions of 5 U.S.C. 552, will be Federal Register on May 31, 2016.3 On among other things, that the rules of a national
available for Web site viewing and June 30, 2016, pursuant to Section securities exchange be ‘‘designed to prevent
19(b)(2) of the Act,4 the Commission fraudulent and manipulative acts and practices, to
printing in the Commission’s Public promote just and equitable principles of trade,’’ and
designated a longer period within which ‘‘to protect investors and the public interest.’’ See
Reference Room, 100 F Street NE.,
to approve the proposed rule change, id., 81 FR at 60764.
Washington, DC 20549, on official
disapprove the proposed rule change, or 9 See id.
business days between the hours of institute proceedings to determine 10 In Amendment No. 2, which amended and
10:00 a.m. and 3:00 p.m. Copies of such whether to disapprove the proposed replaced the proposed rule change in its entirety,
filing will also be available for rule change.5 On July 26, 2016, the
the Exchange clarified that no more than 35% of a
Fund’s assets may be invested in Rule 144A
inspection and copying at the principal Exchange filed Amendment No. 1 to the securities. Amendment No. 2 is available at: https://
office of the Exchange. All comments proposed rule change.6 On August 29, www.sec.gov/comments/sr-nysearca-2016-70/
received will be posted without change; nysearca201670-2.pdf. Because Amendment No. 2
the Commission does not edit personal 1 15 to the proposed rule change does not materially
U.S.C. 78s(b)(1).
alter the substance of the proposed rule change or
identifying information from 2 17 CFR 240.19b–4. raise unique or novel regulatory issues, Amendment
3 See Securities Exchange Act Release No. 77891
submissions. You should submit only No. 2 is not subject to notice and comment.
(May 24, 2016), 81 FR 34388 (‘‘Notice’’).
information that you wish to make 4 15 U.S.C. 78s(b)(2).
11 See Securities Exchange Act Release Nos.

72068 (May 1, 2014), 79 FR 25923 (May 6, 2014)
available publicly. All submissions 5 See Securities Exchange Act Release No. 78207,
(SR–NYSEArca–2014–47) (notice of filing of
should refer to File No. SR–BatsBZX– 81 FR 44338 (Jul. 7, 2016). The Commission proposed rule change relating to listing and trading
2016–77 and should be submitted on or designated August 29, 2016 as the date by which of Shares of Fidelity Corporate Bond ETF Managed
the Commission shall either approve or disapprove, Shares under NYSE Arca Equities Rule 8.600)
before December 21, 2016. or institute proceedings to determine whether to (‘‘Prior Corporate Bond Notice’’); 72439 (Jun. 20,
For the Commission, by the Division of disapprove, the proposed rule change. 2014), 79 FR 36361 (Jun. 26, 2014) (SR–NYSEArca–
6 In Amendment No. 1, which amended and 2014–47) (order approving proposed rule change
Trading and Markets, pursuant to delegated
replaced the proposed rule change in its entirety, relating to listing and trading of Shares of Fidelity
authority.11 the Exchange: (a) corrected certain aspects of the Corporate Bond ETF Managed Shares under NYSE
Robert W. Errett, the investment descriptions for each Fund in Arca Equities Rule 8.600) (‘‘Prior Corporate Bond
accordance with the Prior Corporate Bond Releases Order’’ and, together with the Prior Corporate Bond
sradovich on DSK3GMQ082PROD with NOTICES

Deputy Secretary.
and Prior Total Bond Releases (as defined herein); Notice, ‘‘Prior Corporate Bond Releases’’); 72064
[FR Doc. 2016–28775 Filed 11–29–16; 8:45 am] (b) confirmed that all of the Rule 144A securities (May 1, 2014), 79 FR 25908 (May 6, 2014) (SR–
BILLING CODE 8011–01–P in which a Fund invests will be corporate debt NYSEArca–2014–46) (notice of filing of proposed
securities for which transactions are reported to rule change relating to listing and trading of Shares
TRACE (as defined herein); and (c) confirmed that of Fidelity Investment Grade Bond ETF; Fidelity
FINRA (as defined herein), on behalf of the Limited Term Bond ETF; and Fidelity Total Bond
Exchange, is able to access, as needed, trade ETF under NYSE Arca Equities Rule 8.600) (‘‘Prior
information for the Rule 144A securities as well as Total Bond Notice’’); 72748 (Aug. 4, 2014), 79 FR
11 17 CFR 200.30–3(a)(12). certain other fixed income securities held by the 46484 (Aug. 8, 2014) (SR–NYSEArca–2014–46)

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Document Created: 2016-11-30 02:17:59
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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 86358